Lloyd’s picks Brus­sels for unit

New Straits Times - - Business -

LON­DON: Lloyd’s of Lon­don, has picked Brus­sels for its planned Euro­pean Union (EU) unit, The In­sur­ance In­sider re­ported late on Tues­day. It will ask its coun­cil to rat­ify the de­ci­sion when it meets later, the pub­li­ca­tion said, on the same day Bri­tish Prime Min­is­ter Theresa May trig­gers Ar­ti­cle 50 of the

EU’s Lis­bonTreaty. Lloyd’s has been one of Lon­don’s fi­nan­cial ser­vices firms most vo­cal about the need for an EU unit if Bri­tain has no ac­cess to the sin­gle mar­ket af­ter leav­ing the bloc.

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