Davos WEF
Davos WEF

We need clarity on Brexit: Lloyd’s Chairman

Ahead of the U.K. prime minister's eagerly anticipated speech on her government's plans for Brexit, the Chairman of Lloyd's of London has told CNBC at the World Economic Forum in Davos that the sooner there is a roadmap for U.K.'s exit process from the EU, the better.

John Nelson was responding to news overnight from Theresa May that there would not be a "half-in, half-out deal" pursued but rather a clear and decisive break with the trading bloc.

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"The message that we want,and others want, is clarity," explained Nelson.

"The more guidance and direction we get now the better interms of certainty. We at Lloyds have our plans in place to go onshore in the EU with a subsidiary to allow the market to continue to operate whatever the outcome of the negotiations," he added.

The Lloyds' chairman refused to be drawn on which location had been selected to house the insurance company's European base.

"If I knew I wouldn't tell you," he quipped, adding that while in years past at Davos delegations from emerging markets had been very enthusiastic to meet with his team, "this year it is extraordinary how many invitations we have had from European countries."

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