Lloyd's of London to honour contracts, claims in event of a 'hard' brexit

A man walks out of Lloyd's of London headquarters in the City of London, Britain, July 31, 2018. REUTERS/Simon Dawson/Files - Copyright Simon Dawson(Reuters)

By Reuters

Published on 09/10/2018 - 17:04•Updated 20/04/2024 - 07:18

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LONDON (Reuters) - Lloyd's of London [SOLYD.UL] said on Tuesday it would continue to honour contractual commitments including the payment of valid insurance claims even if Britain exits the European Union without a transitional deal in place.

Lloyd's is in the process of setting up a subsidiary in Brussels to which it is transferring all European Economic Area business and is authorised to write all EEA business from Jan. 1, 2019.