AVIVA: NO INSURANCE FOR BREXIT

→ “There’s no insurance policy against #Brexit” said the insurer
𝗠𝗔𝗬 𝟮𝟬𝟭𝟲: 𝗜 𝗔𝗦𝗞𝗘𝗗 𝗔𝗩𝗜𝗩𝗔 𝗔𝗕𝗢𝗨𝗧 𝗕𝗥𝗘𝗫𝗜𝗧 - 𝗦𝗵𝗮𝗿𝗲 𝟯-𝗺𝗶𝗻𝘂𝘁𝗲 𝘃𝗶𝗱𝗲𝗼
At Aviva’s AGM in May 2016, I asked for the company’s view on Brexit.
Sir Adrian Montague, CBE, then the chairman of Britain’s biggest insurer said:
“What pre-occupies the board is the uncertainty that we would face if there is a vote to leave the European Union.
“We would see the risk of serious short term financial disruption… We like understanding the risks that we’re running, but we can’t measure the risks of a Brexit.
“The company’s view is that we would prefer to avoid the uncertainty.
“All we’re saying is that there’s no turning back if we get into the Brexit situation, and for us there’s no insurance policy against Brexit.”
There was a loud applause from the shareholders in the audience.
Earlier, a shareholder in the audience stood up to call for a ‘point of order’. “We are not interested in the political views of the board on this issue,” he said.
It seems that even before the referendum, Brexiters didn’t want anyone - let alone businesses - to speak out against Brexit. Nothing much has changed, has it?
© Report and video by ‪@JonDanzig‬
#insurance #business #EU #Aviva

[@JonDanzig]

→ “There’s no insurance policy against #Brexit” said the insurer
𝗠𝗔𝗬 𝟮𝟬𝟭𝟲: 𝗜 𝗔𝗦𝗞𝗘𝗗 𝗔𝗩𝗜𝗩𝗔 𝗔𝗕𝗢𝗨𝗧 𝗕𝗥𝗘𝗫𝗜𝗧 - 𝗦𝗵𝗮𝗿𝗲 𝟯-𝗺𝗶𝗻𝘂𝘁𝗲 𝘃𝗶𝗱𝗲𝗼
At Aviva’s AGM in May 2016, I asked for the company’s view on Brexit.
Sir Adrian Montague, CBE, then the chairman of Britain’s biggest insurer said:
“What pre-occupies the board is the uncertainty that we would face if there is a vote to leave the European Union.
“We would see the risk of serious short term financial disruption… We like understanding the risks that we’re running, but we can’t measure the risks of a Brexit.
“The company’s view is that we would prefer to avoid the uncertainty.
“All we’re saying is that there’s no turning back if we get into the Brexit situation, and for us there’s no insurance policy against Brexit.”
There was a loud applause from the shareholders in the audience.
Earlier, a shareholder in the audience stood up to call for a ‘point of order’. “We are not interested in the political views of the board on this issue,” he said.
It seems that even before the referendum, Brexiters didn’t want anyone - let alone businesses - to speak out against Brexit. Nothing much has changed, has it?

[@snowman2970]

Brexiteers intimidated everyone they could not to speak against leaving.

[@californiadreamin8423]

Yes they did , but apart from a few exceptions, they’ve crawled back where they came from, afraid to admit that they have brought ruin to the country. They are no different to Cameron who ran away from his duty to the country and his constituents….cowards.

[@l33jcm]

Well, we've been in (and are still in) a shitstorm of uncertainty since the Referendum, aren't we?

[@andrewwatson5324]

Interesting that someone tried to dissuade the guy from answering.

[@Paul-eb4jp]

"Shareholder here, please don't warn anyone of the possible dangers" A clear example of how they tried to close down all dissenting voices.

[@peterdavidson3268]

I wonder who the (ideologically motivated?) individual attempting to interrupt Sir Adrian Montague was?

[@dondoodat]

There was bound to be uncertainty in taking a decision that those promoting it refused to define.
Any uncertainty has an affect on planning for any industry.

[@californiadreamin8423]

Refusing to give detail was a tactic because detail would have led to scrutiny. Northern Ireland for example. The Tory media , and that includes the BBC failed utterly to challenge and expose this deliberate tactic.

[@dondoodat]

@@californiadreamin8423
Yup, no details meant no internal arguments for Leavers.
It meant whatever anyone personally wanted it to mean.

[@sarangistudent8614]

@@dondoodatyep all 17.4million different versions of it.

[@Beliefish]

@2:20 he was wrong, it was not just a short term uncertainty

[@AvrilCoelho]

I was at a manager's annual conference back then for the retail organisation I worked for. The then CEO did give us his view and it was clear he wasn't in favour of Brexit and knew the implications for retail industries, though stated that as an International company with strongholds in the EU, they'd not be hit as hard as others and UK based businesses.

[@Richard-pe4cx]

how many would buy a house or car sight unseen that was and is brexit

[@Lucretia9000]

What a spineless answer.

[@californiadreamin8423]

What answer did you want ?

[@Iazzaboyce]

@@californiadreamin8423 Something with a bit more backbone...

[@californiadreamin8423]

@@Iazzaboyce Give an example .

[@Iazzaboyce]

@@californiadreamin8423 He should have said more about how the Remain side was telling lies to the UK people.

[@notroll1279]

To everyone capable of interpretation, it was a very clear answer.
To everyone else, speech is lost anyway.

[@hughcaskey9542]

I once insured with iveva never again