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MS&AD Insurance Group reveals post-Brexit shift to Luxembourg

1st November 2017

MS&AD Insurance Group Japanese subsidiary Aioi Nissay Dowa Insurance, (ADI), has revealed plans to restructure the firm's Europe operations, opening a new UK branch and shifting business to Luxembourg to ensure post-Brexit continuity of its European automobile insurance-centred business. UK - based subsidiary Aioi Nissay Dowa Insurance Company of Europe (ADE), the European subsidiary ... Read the full article

TPA Advent Claims partners with Van Ameyde for post-Brexit support

25th October 2017

InsurTech-led claims Third Party Administrator, Advent Claims, has partnered with pan-European claims specialist Van Ameyde - expanding its post-Brexit support network to include Lloyd’s managing agents and coverholders across Europe. The agreement builds on similar joint ventures in the U.S., Canada and Australia which give Advent access to around 80% of ... Read the full article

Beazley Dublin-based branch underwrites first policies

10th October 2017

Beazley has underwritten its first policies through its Dublin-based insurer, which was authorised by the Central Bank of Ireland in July, and established to offer contingency to the European markets in response to Brexit. Some of the policies written by Beazley Insurance are for European banks, which Beazley says are ... Read the full article

Brokers expect London re/insurance market to retain position after Brexit

5th October 2017

A survey of re/insurance brokers found that 80% of those polled are confident that the London insurance and reinsurance market will retain its global position after the UK leaves the European Union. Despite the results of the Brexit vote and the fact the UK is heading for an exit from the ... Read the full article

Everest becomes latest firm to gain Ireland approval amidst Brexit fallout

2nd October 2017

In response to the UK's vote to leave the European Union (EU) and to support expansion plans, Everest Re Group, Ltd. has announced that its Dublin-based subsidiary has received authorisation in principle to operate as a non-life insurer in Ireland. The new unit will be led by Stephen Cross, who has ... Read the full article

Brexit could gradually disintegrate London reinsurance hub

22nd September 2017

The UK government's attempt to stimulate and protect its ILS and reinsurance market with the  introduction of new ILS laws could be too little, too late, as over the long-term Brexit causes a slow disintegration of its well-established reinsurance hub. Speaking at the 2017 Rendezvous de Septembre in Monte Carlo, A.M. ... Read the full article

XL Group to move EU arm to Dublin as response to Brexit

19th September 2017

Global insurance and reinsurance company XL Group Ltd. has selected Dublin as its new European headquarters and the firm will move its principal European Union (EU) company, XL Insurance Company SE, from the UK to Ireland in 2018 in response to Brexit. By redomesticating XL Insurance Company SE from the UK ... Read the full article

Uncertainty remains but London expected to be global re/insurance hub post-Brexit: A.M. Best

19th September 2017

Widespread uncertainty remains, but despite the UK's vote to leave the European Union (EU), global ratings agency A.M. Best expects London to maintain its status as one of the world's leading insurance and reinsurance hubs. In response to the UK's Brexit vote, a number of insurers and reinsurers have announced plans ... Read the full article

Chubb selects France as post-Brexit EU headquarters

13th September 2017

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 ... Read the full article

BMS Iberia launches as long-term solution to Brexit

6th September 2017

BMS Group Limited has announced the launch of BMS Iberia, that will be led by Directors Fernando Claro in Madrid, and Domingo Albi in Seville, Spain. The new European venture provides BMS with a long-term solution for accessing European business in a post-Brexit world. Recently appointed Directors, Claro and Albi, will ... Read the full article

Tokio Marine setting up Luxembourg insurer for EU business

6th September 2017

Insurance giant Tokio Marine Group is the latest to announce a new European base to ensure continuity for trading with EU customers in the wake of the UK's Brexit move. Luxembourg has been selected by the company, and it has begun the process to establish an insurance company in Luxembourg, applying ... Read the full article

Brexit to create opportunities in the UK annuities market

23rd August 2017

The uncertainties of Brexit could create further opportunities in the bulk annuities market for pension schemes and reinsurers as a weaker pound makes buy-out more affordable for schemes with overseas sponsors, said Hymans Robertson in a recent report. The UK's well-developed and highly competitive bulk annuities market could see more mergers ... Read the full article

Brexit and emerging markets an opportunity for London: Nicolas Aubert

14th August 2017

Chair of the London Market Group (LMG) and Head of Great Britain at Willis Towers Watson, Nicolas Aubert, says London insurers and reinsurers should focus on the opportunities presented by Brexit and feels the London market can thrive in emerging parts of the world, in an interview with the Boston Consulting ... Read the full article

Lords Sub-Committee launches inquiry into EU market access post-Brexit

27th July 2017

The House of Lords EU Financial Affairs Sub-Committee has launched a new inquiry into the financial regulatory and supervisory landscape of a post-Brexit Britain, designed to examine how insurers, reinsurers, and banks could maintain EU market access. The inquiry will look at how regulation and supervision might evolve post-Brexit, in order to ... Read the full article

Beazley receives green light to establish Dublin-based insurer

13th July 2017

The Central Bank of Ireland has authorised specialist insurer Beazley to convert its Dublin reinsurance firm into an insurer, after Beazley requested to transfer insurance transactions to Ireland to protect its European business after the Brexit vote. The reinsurer, Beazley Reinsurance Designated Activity Company (dac) was first established in 2009, with ... Read the full article

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