MS Amlin gets go-ahead for Brussels Brexit plan

MS Amlin will redomicile its European operations from London to Brussels after receiving regulatory approval, with the new base fully operational from the beginning of January 2019.

The move sees Amlin Insurance SE, currently based in London, licensed to underwrite insurance and reinsurance from Brussels and European branches, including those in the Netherlands and France. From January next year, it will be MS Amlin’s trading entity for both the UK and Europe.

MS Amlin said the redomicile will have little effect on its day-to-day operations, but is necessary to avert the uncertainties of the UK’s exit from the European Union.

Kim Hvirgel, CEO of Amlin Insurance, said: “I’m delighted the National Bank of Belgium has approved our application to redomicile to Brussels, as this supports our strategic vision of placing Amlin Insurance at the heart of the EU. Brexit inevitably creates uncertainty for clients and brokers alike, but this move means MS Amlin will continue to be well placed to provide innovative solutions to our clients in the European Economic Area during the Brexit transition period and beyond.”

Lloyd’s and QBE have also chosen Brussels for their post-Brexit operations. QBE received regulatory approval to set up a subsidiary in Brussels at the end of May.

This week also saw RSA receive regulatory approval to set up a subsidiary in Luxembourg to deal with Brexit.

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