Aussie insurer QBE moves base from London

Sydney

QBE Insurance Group will move its European base from London to the continent because of uncertainty in accessing the European market after Brexit, the chairman of Australia's largest international insurer said on Wednesday.

"We need to prepare our business for this reality, and we are doing so on the assumption the existing access arrangements enjoyed by UK domiciled insurers to the other 27 European Union countries will not be preserved," Marston Becker told shareholders at QBE's annual general meeting in Sydney.