LONDON (Reuters) - U.S. insurer AIG (AIG.N) may move its European headquarters from London to another European Union country due to Britain’s vote to leave the EU, the head of the AIG’s European and UK operations said on Tuesday.
“At a certain point in time you have to pull the trigger in the absence of any clarity on where negotiations are going with the transition period,” Anthony Baldwin, AIG chief executive AIG Europe and chief executive UK told the Association of British Insurers’ conference.
Asked whether he could take a decision to move the London head office to elsewhere in the EU in the coming year, he replied, “Yes, we might take that decision.”
Baldwin said AIG has experience of moving operations after shifting its European head office from Paris to London five years ago.
“We know what it takes,” Baldwin said, adding the process had taken around 18 months.
“We will always continue to have a big London hub but we might have a European headquarters elsewhere,” he said.
Reporting by Carolyn Cohn; editing by Huw Jones