June 30, 2016

“I think most of the insurance sector expected the Remain vote to be carried,” Michael Blarney told Insurance Ache this week.

Following last week’s victory for the Leave campaign, “It is difficult to know what will happen,” predicted the Northern-Ireland-based managing director of brokers Autolion.

Blarney was speaking to Ache as part of an in-depth regional survey of what brokers didn’t really know about how Brexit might affect their businesses.

Representing Wales, self-made entrepreneur Lyndon Woob spoke for many when he revealed that “I do not really know”.

Some brokers are worried they might lose their passports or that people might not want to give them big chunks of cash any more in return for simply employing some people nobody else wants to employ. But most brokers were adamant that ‘something will turn up.’

Speaking for Scots brokers up and down Scotland, Ben Bayleaf of Clark Thompson affirmed that “It’s not what I would have wanted but” there is “no reason to panic” and “we we will rise to challenge.”

Still representing Wales, entrepreneur Woob added reassuringly that “”At the end of the day the world still spins.” Not great news for Wales, though, he conceded.

Nobody was available for comment in England. Nor in ‘International’ apparently, but Ache did manage to speak to UK-based broker La Player who have ‘an international presence’.

Their CEO Mark Boon said he was disappointed with the result on a “humanitarian” level. But, he insisted, there is no need to do any new planning: “It is business as usual,” he insisted, “there is not much that will change with regard to our plans.”

He also dismissed fears that historic insurance hotspot London might not be there next time we look. “London is the cradle of insurance and still has kudos and prestige, and I do not see several hundred years of that disappearing,” he reasoned.

Coincidentally, many insurers, have also this week confirmed that everything is basically fine.

For another couple of years at least.

kudos


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