- Title: 'We're Brexit-ready', says Lloyd's CEO John Neal
- Date: 11th October 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 11, 2019) (REUTERS) (SOUNDBITE) (English) LLOYD'S OF LONDON, CEO, JOHN NEAL, SAYING: "It's a very different world, isn't it? I mean, and it can't be sustainable. You know, if you if you go into Europe to borrow money, the interest rate is negative. If you put money in a bank, they charge you for it, and that can't be sustainable over the long term. So, you know, we all anticipate that we're in a low inflation, low interest that low interest rate economy, but it's just adjusted too low, bit that just needs to stabilize. So, I think we're in very uncertain times, and that makes it hard for business."
- Embargoed: 25th October 2019 19:41
- Keywords: tariffs economy Brexit Donal Trump John Neal reinsurance Lloyd's of London interest rates insurance Boris Johnson Federal Reserve Jerome Powell
- Location: NEW YORK, NEW YORK, UNITED STATES / LONDON, ENGLAND, UNITED KINGDOM
- City: NEW YORK, NEW YORK, UNITED STATES / LONDON, ENGLAND, UNITED KINGDOM
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA003B0NMQ31
- Aspect Ratio: 16:9
- Story Text: Lloyd's is Brexit-ready, said the insurance and reinsurance market's CEO John Neal in an interview with Reuters on Friday (October 11).
Neal also said the global economy is at a tipping point, with not much certainty, which is not good for business.
"The perfect economy has a bit of interest rate and a bit of inflation, because everyone does a little bit better in that world," Neal said. "Wages go up, more products are developed, and more products are sold."
Neal also said he is a great advocate of free trade, when asked about tariffs.
The conversation took place just as London-listed companies with exposure to the domestic economy soared for their best day in nearly a decade on hopes that Britain can seal a Brexit deal.
The European Union agreed to enter intense talks with the UK, signaling that an agreement could be done before the Halloween deadline.
(Production: Andrew Hofstetter & Aleksandra Michalska)
- Copyright Holder: REUTERS
- Usage Terms/Restrictions: None