It looks like Luxembourg is out and it’s either the Netherlands or Sweden for Preston-based life insurance firm Chesnara, when push comes to shove after Brexit.
While there is currently no intention to move, Chesnara cited the Netherlands and Sweden as possible options since the UK insurer has presence in both markets. The decision to move at all will depend on how Britain’s withdrawal from the European Union will impact regulation.
In a report by
Reuters, a Chesnara spokesperson was quoted as saying, “Chesnara already has two insurance companies in the Netherlands and one in Sweden so could move its headquarters to either of these locations, depending on the regulatory environment post-Brexit.”
In 2016, chief executive John Deane said Chesnara could move its headquarters to Amsterdam if necessary.
Meanwhile, other industry players are looking at Luxembourg, Brussels, Munich and Dublin.
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