Approval to move trading arm is a significant step in the insurer’s Brexit preparations
MS Amlin has received approval to re-domicile the insurer’s UK and Europe trading arm to Belgium.
Amlin Insurance SE (AISE) was granted a licence by the National Bank of Belgium (NBB) on 29 May for insurance and reinsurance activities from its Brussels office and associated branches in the European Economic Area (EEA).
These branches include offices in the Netherlands and France.
In a statement the firm said the approval was a significant milestone in its Brexit preparations.
Kim Hvirgel, AISE chief executive, said: “I’m delighted the NBB have approved our application to re-domicile to Brussels, as this supports our strategic vision of placing AISE 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 EEA during the Brexit transition period and beyond.”
The Brussels office should be operational from 1 January 2019.