A Standard Life chief said only ‘lawyers and consultants’ could enjoy the prospect of Brexit

Keith Skeoch
Standard Life CEO Keith Skeoch previously came out against Brexit in February. Dan Mullan/Getty Images

A chief at one of the largest insurance companies in Britain — Standard Life — reiterated the company’s opposition to the UK leaving the European Union in the June 23 referendum — known as “Brexit.”

Speaking via video link at a press conference for IT company Syntel on Friday morning, Standard Life Investments Director of Operations Mike Tumilty said the company remains absolutely against a Brexit, and joked that the only people who could enjoy the prospect were “lawyers and consultants.”

Standard Life has been open about its Brexit opposition for some time.

In February CEO Keith Skeoch said the company was preparing contingency plans should a Brexit happen and that “it would be in the best interests of customers and clients that we continued to benefit from access to the single market,” according to The Guardian.

Other major insurance industry players are against a Brexit.

Lloyds of London — the world’s biggest insurance market — said in March that the benefits of being in the EU were “enormous,” and that it too was setting up contingency plans if the UK voted to leave, including the possible relocation of its head office.

Polling suggests the Vote Leave and Remain camps are neck and neck at the moment, despite a recent visit by President Obama in which he urged Britons to vote to stay in the EU.

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