Insurer MS Amlin picks Brussels for its post-Brexit EU base

 
Caitlin Morrison
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UK insurers are moving business to other European countries because of Brexit (Source: Getty)

London-based insurer MS Amlin has decided to launch its post-Brexit EU base in Brussels, following in the footsteps of Lloyd's of London and QBE.

The group, which was formed after the takeover of Lloyd's insurer Amlin by Japan's Mitsui Sumitomo in 2015, said it will re-domicile its European business, Amlin Insurance Societas Europaea (AISE) to Belgium in response to Brexit.

"MS Amlin will retain its global headquarters in London," the firm said in a statement.

AISE already has a branch based in Brussels, and offices in Antwerp.

"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, chief executive of AISE.

"This is a strategic move that ensures our European brokers and clients experience no disruption from the UK's exit from the EU."

MS Amlin is the latest of many UK insurers to unveil plans to move their EU business after Brexit. Lloyd's of London was one of the first to confirm plans to shift its EU base to Brussels, and will be joined there by QBE, while Liberty Specialty, Hiscox and AIG opted for Luxembourg.

In other sectors, JP Morgan recently purchased a building in Dublin as it prepares to move jobs across the Irish Sea.

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