Brexit "exodus", is it starting now?

  rickf 20:07 31 May 2018

This is now beginning to feel real. Just received a letter from AIG informing me that they are transferring all their insurance activities to the EU from the UK probably by December this year. I know there have been small rumbling of this in recents months from various businesses but it's feels real today with the letter in my hand.

  Govan1x 20:48 31 May 2018

Transfer it to another insurance company then. If they want to leave why support them.

Hope the government may close the door on those that want to go and maybe return in the future.

  Quickbeam 08:23 01 Jun 2018

I see that Nigel Lawson recently applied for French residency...

  rickf 09:02 01 Jun 2018

NL Has been living in France for a long while. Talk about being two-faced.

  Old Deuteronomy 14:00 01 Jun 2018

Time for new portmanteau word: brexodus.

  Pine Man 14:59 01 Jun 2018

AIG informing me that they are transferring all their insurance activities to the EU from the UK

As an American multinational finance and insurance corporation with operations in more than 80 countries worldwide they seem to have done ok so far, so presumably they think that their future business model for this area is best suited to an EU base.

Transfer it to another insurance company then. If they want to leave why support them.

Why? They have always been a US company which rickf has been happy to support. If their product is good and competitive why not stay with them until a more competitive product becomes available locally.

Hope the government may close the door on those that want to go and maybe return in the future.

I can't see that happening. A lot of foreign companies are based in this country and if, AIG for instance, wanted to return after a period in Europe that would bring employment and income to this country, which it might be very grateful for if Brexit turns out not to be the cash cow that many are expecting.

Just my thoughts.

  rickf 17:06 01 Jun 2018

For me nothing has changed instead of my rights. They has a duty to inform me that they were moving to the EU that's all. I'll certainly not move my a/c.

  Quickbeam 17:25 01 Jun 2018

We'll all continue to shop around for the cheapest quote as we do now, wherever they're based, and buy that.

  john bunyan 18:28 01 Jun 2018

Many banking , not all, activities will move to Dublin, Paris, Frankfurt etc to keep “passporting “ rights. An inevitable result of Brexit, as warned in the Remain campaign. Just as richer folk and companies will move if a Corbyn Government increases taxes too much. Quite predictable.

  Aitchbee 06:28 04 Jun 2018

Just as richer folk and companies will move if a Corbyn Government increases taxes too much. Quite predictable.

...and tax avoidance by some of these 'richer folk and companies' is rife under the watch of this Tory government and the previous ones. May [ and Cameron before ] have been dragging their heels to do anything about it.

This immoral, disgusting behaviour has got nothing to do with Brexit, btw.

  rickf 08:21 04 Jun 2018

Just as richer folk and companies will move if a Corbyn Government increases taxes too much. Quite predictable. It's really odd that JC is brought into it at any and every opportunity. Speaks volumes.

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