A Japanese insurer leaves London for Luxembourg

Aioi Nissay Dowa Insurance, a subsidiary of MS & AD Insurance Group has decided to transfer one of its UK subsidiaries to Luxembourg. This initiative will allow the Japanese insurer to guarantee the continuity of its European business after the withdrawal of the free service passport between Europe and the United Kingdom.

Several other insurers located across the other side of the Channel, including in particular FM Mutual, AIG and Hiscox, have chosen Luxembourg to set up their new European subsidiary.

The official exit of the United Kingdom from the European Union is scheduled for 31 March 2019.

More news:

• The insurance industry in Luxembourg