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It will announce its choice on Wednesday after its council meets, a Lloyd's spokesman said, the same day British Prime Minister Theresa May triggers Article 50 of the EU's Lisbon Treaty.Lloyd's shortlist of six locations has been reduced to Brussels and Luxembourg, three sources said.Earlier this month, Ireland said it had received five Brexit-related applications for authorisation by insurance or reinsurance firms and five more had signalled a firm intention to apply.

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"As other larger insurers announce their decisions on this matter, it helps inform our choice - we are happy to benefit from their analysis," said one insurance CEO.

Alongside Dublin's removal, Frankfurt, Malta, and Paris have also been dropped.