The world's largest insurance and reinsurance market has opened its European head office in Brussels. This entity will serve to bring Lloyd's expertise close to its European customers and partners after the Brexit [4].
Authorised and regulated by the National Bank of Belgium, Lloyd's Brussels covers non-life risks within the European Economic Area (EEA). The Belgian office employs 50 staff members while 45 other jobs will be created across the continent.
Lloyd’s Brussels is a subsidiary of Lloyd's [5] with 19 branches in Europe that will collaborate with 400 Coverholders and 40 Lloyd's brokers.
As a reminder, Lloyd's of London announced, last May, the creation of a European subsidiary to maintain access to the single market when the UK leaves the European Union on March 29th, 2019.