Speciality insurance group Newline has selected Cologne as the European Union insurance hub of Newline Insurance Company.
Having already started the application process, Newline is now seeking to create an insurance company subsidiary that will be capitalised, licensed and regulated in Germany.
The company had previously established a branch office in the German city in December 2016, in an effort to provide its policyholders and brokers with a local underwriting and claims handling team.
Commenting on the announcement, CEO of Newline Group, Carl Overy, said, “Cologne is a natural choice for us, given our existing presence and the support we have from the local market. This new platform will enable us to provide seamless and continuous service in the post-Brexit environment.”
Newline’s General Representative for Germany, Manuel Wirtz, added, “This decision is a testament to our clients and brokers in Germany, Austria and neighbouring countries for placing their business and trust in us.”
