Luxembourg News

Liberty Mutual Opens European Headquarters in Luxembourg in Preparation for Brexit

Liberty Specialty Markets, part of Liberty Mutual Insurance Group, said it has re-domiciled its European insurance company Liberty Mutual Insurance Europe SE (LMIE) to Luxembourg, the home of its European headquarters. Liberty Specialty Markets will maintain its branch network in …

Luxembourg Attracts 50 Firms for Their Post-Brexit EU Headquarters

Luxembourg said it is “very pleased” that about 50 asset managers, insurers, and other financial firms have looked to the Grand Duchy as a foothold in the European Union once the U.K. leaves the bloc. “We are very pleased with …

Sompo International Launches Luxembourg-Based Subsidiary SI Insurance (Europe)

Sompo International Holdings Ltd., a Bermuda-based provider of specialty property and casualty re/insurance, announced the launch of its new subsidiary, SI Insurance (Europe). SI Insurance (Europe) is headquartered in Luxembourg with branches in Belgium, France, Germany, Italy, Spain and the …

AIG Appoints Aspen Re’s Lillelund as CEO of AIG Europe in Luxembourg

American International Group, Inc. announced that Thomas Lillelund will join as chief executive officer of AIG Europe SA. Headquartered in Luxembourg, AIG Europe SA is a new legal entity for AIG’s business in the European Economic Area and Switzerland. The …

Luxembourg Runs Low on Large Offices for Insurers, Banks Seeking Post-Brexit HQs

Luxembourg is so tiny that map-makers have been known to give up and pretend it’s not there. So as the minuscule financial hub continues to draw London firms opening up a post-Brexit presence in the European Union, there’s a nagging …

20-Plus Insurers, Banks & Fund Firms Select Luxembourg as Post-Brexit HQs

More than 20 major international institutions chose to set up all or part of their activities in Luxembourg last year, the country’s financial development agency said on Thursday, linking the decisions to Britain’s move to leave the European Union. The …

Luxembourg Sees No Reason to Change EU ‘Delegation’ Rules After Brexit

Luxembourg’s finance minister Pierre Gramegna said on Friday the European Commission should stick to the current rules that allow funds managed in London to be domiciled and regulated in another country. His comments pit the tiny and wealthy country against …

Tokio Marine Plans to Set Up Luxembourg Unit in Preparation for Brexit

Tokio Marine Group announced that it is seeking regulatory approval to establish an insurance company in Luxembourg, to be prepared for Brexit. Through several of its subsidiaries, principally Tokio Marine HCC and Tokio Marine Kiln, the group has been active …

FM Global Gets License in Luxembourg to Launch Post-Brexit EU Hub

U.S. commercial property insurer FM Global has been approved to run a European hub in Luxembourg, a move allowing it to issue policies in the European Union and other countries following Britain’s decision to leave the bloc, the company said …

UK Firms Choosing Luxembourg as Brexit HQ May Find Lifestyle Differences

Little Luxembourg is luring firms on the lookout for a post-Brexit foothold in the European Union, from JPMorgan Chase & Co. to insurance giant American International Group Inc. While many find the Grand Duchy a multilingual paradise, would-be expats are …