Insurers seek urgent review with Ireland set to lose out

Industry body Insurance Ireland has called for an urgent review of the country’s attractiveness as an EU hub after reports that Lloyd’s of London plans to overlook Ireland as it selects a new European headquarters following Brexit.

It emerged yesterday that Lloyd’s — one of the most vocal UK financial services firms on the need of an EU base if Britain loses single market access — is likely to pick Luxembourg or Brussels for its planned EU subsidiary.

Such a move would see Dublin, which had been seen as an early favourite for the role, lose out.