MS Amlin has announced plans to re-home its European business to Belgium in response to Brexit.
The specialist global reinsurer will keep its global headquarters in London but the Amlin Insurance Societas Europaea (AISE) will move. MS Amlin is already a big name in the Belgian insurance market, with a Brussels-based branch of AISE and offices in Antwerp.
AISE had a Gross Written Premium of £444.7 million (€568.4 million) in 2016, with a workforce of 508 people. It writes for marine, casualty, property and fleet business through its UK domicile and branches in the Netherlands, Belgium, France and Germany.
“We chose Belgium as our European headquarters for AISE because of its business-friendly financial centre, 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.”
The proposal remains subject to regulatory approval from the National Bank of Belgium. AISE hopes to make the change in time for 2019 renewals.
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