Lloyd's of London is looking to move all of its European Economic Area business to its Brussels subsidiary before the end of 2020.

The market has given assurances that underwriters will meet their contractual obligations even if the U.K. departs the European Union without a transition period before the transfer is complete.

The guarantee includes payment of valid claims. The Brussels subsidiary can begin writing all of Lloyd's EEA business starting Jan. 1, 2019.