The parliamentary elections due on 7 May in Great Britain raised fears among insurers. In case of victory, David Cameron promised voters to renegotiate the conditions of his country’s membership in the European Union and to stage a referendum on whether or not Great Britain should remain in the E.U.
In case of exit, the financial institutions would no longer benefit from the system of "European passport". This mechanism facilitates transactions between member countries.
UK insurers would be obliged to create a subsidiary SE Statute (Societas Europaea) in an EU state. This status would enable the company to operate its business in all countries of the Union.
The Lloyd is achieving 15% of its turnover in Europe.
Exit of the Union is likely to increase the operating costs of British Insurers, reducing the weight of their countries in international negotiations, particularly on legislative and commercial matters.