MS Amlin’s Brexit plans are now pushing through, after the global (re)insurer received approval to re-domicile Amlin Insurance SE (AISE) to Belgium.
AISE, the trading entity for the UK and Europe, was granted a licence by the National Bank of Belgium (NBB) for insurance and reinsurance activities from its Brussels office and associated branches in the European Economic Area (EEA). With the regulatory approval, MS Amlin said it will now start the process of re-domiciling its entity operations in order to be fully operational from the new base come January 2019.
“I’m delighted the NBB have approved our application to re-domicile to Brussels, as this supports our strategic vision of placing AISE at the heart of the EU,” commented AISE chief executive Kim Hvirgel. “Brexit inevitably creates uncertainty for clients and brokers alike, but this move means MS Amlin will continue to be well placed to provide innovative solutions to our clients in the European Economic Area during the Brexit transition period and beyond.”
MS Amlin described the approval and licensing as a significant milestone as the business prepares for the UK’s departure from the European Union. However, it made clear that the development will have no effect on the day-to-day operations of any of MS Amlin’s trading entities.
AISE’s branches in the EEA include offices in the Netherlands and France.
Part of the global insurance group MS&AD, MS Amlin has operations in the Lloyd’s, UK, Continental European, and Bermudian markets. It employs more than 2,200 people in 26 locations worldwide.