June 28, 2017
MS Amlin has announced that it has selected Belgium for its post-Brexit EU base.
The carrier follows in the footsteps of QBE and Lloyd’s, which have both opted to establish EU subsidiaries in Brussels.
MS Amlin said that it will re-domicile its European business, Amlin Insurance Societas Europaea SE (AISE) from the UK to Belgium in response to Brexit, however it will retain its global headquarters in London.
The carrier already has a Brussels-based branch of AISE and offices in Antwerp.
AISE writes marine, casualty, property and fleet business through its UK domicile and its branches in the Netherlands, Belgium, France and Germany. The business reported gross written premium of £444.7mn in 2016 and has 508 employees.
Commenting on the announcement, AISE CEO Kim Hvirgel said: "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.
"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 said that, subject to regulatory approval from the National Bank of Belgium, it expects to have the subsidiary established “well in time” for the 2019 renewals.