Over 80% of the UK’s leading insurers believe that attracting capital to London after the country leaves the EU will be a harder job, while 75% think it will be more difficult to attract the best talent. In a survey of FTSE insurance firms conducted by legal services firm DWF, respondents say they are concerned about the impact on investing in London activities if the UK fails to retain access to the single market.
The main reasons insurers give for being headquartered in London are that the UK capital is one of the most connected cities in the world, along with its position as Europe’s main financial centre.
The research, City of London: Blueprint for Growth, found that almost 90% of insurers reckon technological innovation is key to their business strategy over the coming five years, the highest of all sectors covered, including ICT (82%) and banking (76%).
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