Should the UK leave the European Union (EU) in March 2019, following the Brexit vote, Chubb Limited plans to locate its EU headquarters in France, subject to receiving the necessary regulatory and other governmental approvals.
Chubb has said that it will continue to have a significant presence in London post-Brexit, as well having offices across the UK and the Europe Union.
Evan Greenberg, Chairman and Chief Executive Officer (CEO) of Chubb, commented; “Locating our European Union headquarters in France post-Brexit is a clear choice for us. Paris is the principal office for our Continental European operations and we have a significant investment there in both financial and human resources, as well as a large portfolio of commercial and consumer insurance business throughout France.
“Our many years of experience in the French market and working closely with the French regulators gives us great confidence in making this decision and reinforces our commitment to our staff, clients and distribution partners in both France and across the Continent.”
Joseph Wayland, Executive Vice President and General Counsel, Chubb, added; “We have been encouraged by the assistance and cooperation provided by the French government as we have considered our post-Brexit options and we look forward to working closely with the French authorities as we move forward on this project.
“We are confident that locating our EU base in Paris will ensure that Chubb is well positioned to serve its clients whatever the ultimate terms of the UK’s exit from the European Union.”