MS Amlin, the specialist global re/insurer, plans to re-domicile its European business, Amlin Insurance Societas Europaea (AISE), to Belgium in response to Brexit.
MS Amlin said it will keep its global headquarters in London.
MS Amlin is already an established player in the Belgian insurance market, with a Brussels-based branch of AISE and offices in Antwerp, the company said in a statement.
With gross written premium of £444.7 million ($567.1 million) in 2016 and 508 employees, AISE currently writes marine, casualty, property and fleet business through its UK domicile and its branches in the Netherlands, Belgium, France and Germany.
“We chose Belgium as our European headquarters for AISE because of its business friendly financial center, high quality regulatory framework and geographical position in Europe,” said Kim Hvirgel, CEO of AISE and global managing director, Property & Casualty.
“This is a strategic move that ensures our European brokers and clients experience no disruption from the UK’s exit from the EU, whilst continuing to enjoy the same high-quality service they have come to associate with MS Amlin,” Hvirgel added.
Subject to regulatory approval from the National Bank of Belgium, the proposed change is expected to be completed well in time for 2019 renewals and to ensure a seamless transition for our customers, brokers and business partners.
Source: MS Amlin
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