Lloyd's Postpones Post-Brexit Policies Transfer Date

Law360, London (July 24, 2020, 4:38 PM BST) -- Lloyd's of London has pushed back the date by which it will transfer all its European insurance business to its Brussels subsidiary, although the market said it will complete the move before the end of the Brexit transition period.

Lloyd's said it will complete the so-called Part VII transfer by Dec. 30, rather than the original date of Oct. 29.

The announcement, on Wednesday, did not give reasons for the delay except that it will give all parties involved "the maximum amount of time." The process is substantial and complex, the statement said.

"Post-Brexit, these policies, or part policies, cannot be...

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