Good news for Insurance & the rest of the City
The eFinancial article by Paul Clarke in January was one of many identifying the move of Aon’s headquarters to London as being good news. I think this is an understatement. With rumours of the Prudential moving their headquarters to Hong Kong and others, this is a factually true announcement and the first of its kind for a Fortune 500 from the US. I am fairly sure I am right in saying, this has never happened before. As far as I understand it, Aon will only be moving upwards of 14 or so Senior Executives and then many more to follow – to Devonshire Square and then onto their new headquarters location, the Leadenhall Building. However, this is significant and good news not only for the insurance sector but also the wider financial services community in the City.
There have not been enough articles congratulating the insurance sector in the London financial services community. Without a doubt, with all the banking flak that has been going on over the last few years, the insurance and reinsurance sectors have been getting on with the job and in difficult circumstances, producing some impressive results.
I welcome articles like this one – in my view I think there should be a few more around the continuing strength of the London insurance market and what it does for this country’s invisible balance of payments.