Seven out of 10 insurers, brokers and service providers in London’s international insurance market believe leaving the European Union would “hurt” or “severely damage” Lloyd’s.

Research commissioned by financial public relations consultancy Haggie Partners shows 68.7% fear “Brexit” would damage Lloyd’s, 25.1% expect no impact and only 6.2% think it would benefit the market.

All but 12.7% of respondent companies report doing business with Europe directly or indirectly.

As Lloyd’s expands its international presence 45.8% of respondents regard the EU as the priority for development, compared with 23.7% for China, 16.2% Latin America, 10.7% India and 5.5% the Middle East.

Cambridge University financial historian Adrian Leonard, who developed the survey for Haggie, says Lloyd’s has stated its preference for Britain to remain in the EU and “the vast majority of companies in the London market agree”.

Survey respondents were also asked about the replacement for Lloyd’s Chairman John Nelson, who is due to step down next year. More than 58% believe the next chairman should be either a Lloyd’s insider or an insurance professional from outside Lloyd’s.

The remainder prefer a professional from outside the insurance industry.

“Most believe the chairman should be an ambassador for the market first and foremost,” Dr Leonard said.

“There is less support for strategic decision-making from the top floors of [Lloyd’s headquarters in] Lime Street.”