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International insurance leaders have their say on Brexit

International insurance leaders have their say on Brexit

International insurance leaders have their say on Brexit After months of hype, the decision as to whether the UK will remain within or leave the European Union will finally be cast this Thursday – and the insurance industry can’t stop talking about it.

Earlier today BIBA issued a Press release urging members to make their voices count in the EU referendum with chairman Lord Hunt commenting that he is firmly in the ‘remain’ camp.

“Quite apart from the wider, powerful arguments about peace and prosperity in Europe and the need for British engagement and leadership at a dangerous time for the world, I believe that remaining in the EU would be a vote for business stability over uncertainty,” he said. “A ‘remain’ vote would stimulate investment and boost confidence that we will be able to continue to trade freely under the EU freedom of services provision. That, in turn, would benefit both us within the sector and also our customers.”

However, his words were just the beginning – as now the Association of British Insurers has issued its own release with more than 20 leaders of insurance and long-term savings associations across Europe signing a letter urging the UK to remain a member of the EU.

The text of the letter and full list of signatories is as follows:

While the Referendum is clearly a matter for the British public to decide, there will be implications for all EU markets.  We believe it is in everyone’s interest – the UK and the EU – for the UK to remain. And we will be watching and hoping that the result means that constructive relationship will continue with the UK playing a full role as a full EU member.

The UK is an active and positive partner which also has a firm and critical eye and is willing to challenge as required. This brings results for the UK, and is healthy for the whole of the EU. No-one can doubt its contribution has been positive for all.

Signed by:
Philippe Cole – CEO, Belgium Insurance Association
Svetla Nestorova – Chairwoman, Bulgarian Insurance Association
Stephie Dracos – Director General, Insurance Association of Cyprus
Jan Matoušek – Director General, Czech Insurance Association
Mart Jesse – Chairman, Estonian Insurance Association
Esko Kivisaari – Deputy Managing Director, Finance Finland
Philippe Poiget - Acting Director General – French Insurance Association
Jörg Freiherr Frank von Fürstenwerth – Chairman, German Insurance Association
Margarita Antonaki – Director General, Hellenic Association of Insurance Companies
Daniel Molnos – Secretary General, Association of Hungarian Insurance
Kevin Thomson – CEO, Insurance Ireland
Dario Focarelli – Director General, Italian Association of Insurance Companies
Andrius Romanovskis - Director, Lithuanian Insurance Association
Marc Hengen – General Manager, Luxembourg Association of Insurance and Reinsurance Companies
Adrian Galea – Director General, Malta Insurance Association
Richard Weurding – General Manager, Dutch Association of Insurers
Idar Kreutzer – Director General, Finance Norway
Alexandra Queiroz – General Manager, Portuguese Association of Insurers
Mirenchu del Valle Schaan – Secretary General, Spanish Association of Insurance and Reinsurance Institutions
Christina Lindenius – Managing Director, Finance Sweden
Lucius Dürr – Director General, Swiss Insurance Association

It seems the pressure is on and key figures in the insurance industry are not hiding their allegiance as voting day looms. However, where do you stand in the debate? If you’re willing to share which way you will vote and why, leave a comment below with your thoughts.

Related links:
AIG weighs European Union hub beyond London if Brexit prevails
Lloyd’s CEO: Brexit among top three risks to global economy
Industry backs Cameron in Brexit debate