Business

How London grew into a financial powerhouse

Foreign and British insurers are clustered close to the world’s leading insurance and reinsurance marketplace: Lloyd’s of London on Lime Street. There has not yet been a significant movement of staff from London’s insurance industry, but many have set up new EU subsidiaries. Most significantly, Lloyd’s of London has established a new office in Brussels. Others including AIG and Travelers have set up bases in cities including Luxembourg, Dublin and Madrid. Several law firms, including Pinsent Masons, Simmons & Simmons and DAC Beachcroft have opened offices in Dublin. Big Four accounting firms PwC, EY, Deloitte and KPMG had big operations in EU countries going into Brexit.

Reporting by Laura Noonan, Steven Bernard, Jonathan Guthrie, Liz Faunce and Alan Smith; additional reporting by Philip Stafford, Laurence Fletcher, Oliver Ralph, Siobhan Riding, Attracta Mooney, Tabby Kinder and George Hammond.

Note: maps include selected companies only


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