CLEAN : Lloyd's had to open Europe office following Brexit: CEO

The transcript discusses the challenges faced by the insurance sector, particularly in light of Brexit. It explains the decision to set up an EU subsidiary to mitigate the impact on 5% of global revenues. The location choice was difficult due to many suitable countries. Despite these changes, Lloyds plans to maintain its core operations in London, with minimal role transfers. The aim is to ensure seamless business continuity, offering the same insurance services to EU customers through legal and regulatory adjustments.

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