Belgium is first choice for brokers preparing for Brexit

Article Summary

Belgium has emerged as the favoured location for EU entities that want to ensure that London brokers can continue to support their European clients in getting ready for Brexit and beyond.

In a survey conducted by the London & International Insurance Brokers Association (LIIBA), nearly one in four brokerage firms have chosen Belgium as their preferred setting. Ireland and France were the next most popular locations.

Christopher Croft, CEO of LIIBA said that brokers have worked hard to ensure that they are prepared for Brexit. “We are confident that whatever the outcome of the negotiations, London will still be able to play a key role in helping European businesses to manage their risks,” he said.

“We are not surprised that so many of our members have chosen Belgium as the location for their EU entity. The Ministry of Finance took a proactive and pragmatic approach to creating a regulatory, tax and employment framework that provided a first-class solution for brokers. We are grateful to them for the support they have shown.