International brokerage giant Jardine Lloyd Thompson (
JLT) is bolstering its operations in Europe ahead of the start of the formal Brexit negotiations.
The company said it is not waiting for Prime Minister Theresa May to trigger Article 50 of the Lisbon Treaty by the end of March.
“We’re making plans to ensure we can continue to service our clients under all circumstances,” JLT Group Deputy CEO Mark Drummond-Brady said in the brokerage’s latest
Risk Specialist publication.
“We have some EU-domiciled operations, but we’re looking to strengthen them. We’re already moving in that direction,” he added. “We’re not waiting for any other outcome; we’re investing in strengthening our presence in continental Europe now.”
Drummond-Brady said there has been “lots of clear thinking on contingency planning” and that the broker’s international teams have been doing “a fantastic job.”
The global brokerage is keeping in touch with relevant government departments, including the Treasury, the Brexit department, International Trade and the Foreign Office.
“The government is seeking information at every level,” Drummond-Brady said.
As JLT presses ahead with its plans, Drummond-Brady expressed concern that the insurance industry’s lobbying may have already fallen apart.
“I think the industry is in a weak lobbying position, as every sector is pushing its own case,” he said.
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