Insurer RSA Group has received licence approval for its new insurance subsidiary in Luxembourg from the r Commissariat aux Assurances (CAA).
RSA Luxembourg is being established in preparation for the United Kingdom’s exit from the European Union to ensure there is no disruption to business with EU-based customers and other business partners.
RSA’s European branch business focuses on large commercial clients and employs 250 people across the EU. Richard Turner, who currently oversees the EU business from the UK, will take up the director role for RSAL.
RSA said it will transfer existing EU branch business of RSAI PLC to RSA Luxembourg (RSAL) beginning Jan. 1, 2019.
T”RSA Luxembourg demonstrates our commitment to the European Union. It provides certainty and continuity for our customers and other business partners across the EU post Brexit,” said Tony Buckle, managing director of RSA’s Global Risk Solutions.
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