Aviva calls for fixed plan on Brexit
The boss of insurance giant Aviva has called on the government to provide a clear timetable for Britain’s exit from the European Union.
Britain is yet to trigger so-called Article 50, which would begin the process of untangling the nation from the trading bloc. This is despite calls from European council president Donald Tusk to do so as soon as possible.
Mark Wilson said the investment market wanted “certainty of timeframe”.
“We need to take some time, take a deep breath, we need to sort out what the plan is,” he told Bloomberg TV.
Wilson also cast doubt on claims that the City will be hurt by Britain’s departure from the EU.
“It is still a financial hub. Trying to unwind all of that is a pretty tall order and I don’t think that will happen.
“The reality is that London is home for insurance, so for us it doesn’t make much difference.
“In the EU there is not one single insurance market. It’s no easier for me to do business in France than Singapore or China.”
Aviva has forecast profit growth in the mid-single digits for the next few years.
