Chubb European Group has completed its planned move from London to France as part of its preparations for the UK’s departure from the European Union (EU) in March 2019.
The redomicile to Paris is effective from 1 January and aims to provide Chubb customers with continuous, uninterrupted service regardless of the outcome of Brexit negotiations.
Chubb selected France as the location for its post-Brexit headquarters in September 2017, explaining that Paris was the already the principal office for its Continental European operations, and provided significant financial and human resources, as well as a large portfolio of business.
The company later received authorisation from the Board of the French supervisor Autorité de Contrôle Prudentiel et de Résolution (ACPR) in July 2018 to redomicile its businesses to France.
“Chubb has focused on delivering clarity, continuity of service and certainty for our customers, brokers and other partners, regardless of the final outcome of Brexit,” said David Furby, Regional President at Chubb European Group.
“We’re pleased that the redomicile of Chubb European Group’s businesses to France has been completed as planned,” he added.
Both Chubb European Group SE and ACE Europe Life SE now operate under the supervision of the ACPR and operate in the UK as a passported EEA branch. Both entities are also subject to regulation by the Financial Conduct Authority in the UK.
