U.K. exit from E.U. may hit London insurance market

The International Underwriting Association has said a United Kingdom exit from the European Union is likely to hit London insurance market, reported Reuters.

If the U.K. votes to the leave the European Union, it could affect London insurers' ability to sell policies in Europe and could prevent foreign players from opening offices in the city, said the IUA.

"If the United Kingdom were to exit, insurers and reinsurers from ... countries such as the United States and Japan might be obliged to choose other European centers over London in order to passport into the E.U.," added the IUA.

Read more