- 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) LLOYD'S OF LONDON CHIEF EXECUTIVE OFFICER JOHN NEAL ENTERS ROOM (SOUNDBITE) (English) LLOYD'S OF LONDON, CEO, JOHN NEAL, SAYING: "So, I think, Brexit has been really challenging for the UK financial services industry. Financial services makes up 25 percent of the UK's GDP. So, we've had to work really, really hard to get ourselves back on our feet in Europe to enable to serve the needs of customers straight away. So, we've been doing that since January 2019. So, we assumed that Brexit has happened. So, we're Brexit-ready."
- 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: LVA001B0NMQ31
- 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
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