"Insurance is another sector that’s European activity is highly concentrated in London and where Brexit may hurt. But the UK’s main competitors are in Asia (Singapore and Tokyo) and the US. The access that London has to EUropean money is based on proximity and historic relationships, not on being part of the EU. In short, even in insurance markets it is hard to see a rapid shift away from the City of London."
If yes, why can it be used that way?