Chubb moves EU headquarters to France in Brexit move
Property/casualty insurer Chubb said on Sept. 11 that it plans to establish its EU headquarters in France.
"Locating our European Union headquarters in France post-Brexit is a clear choice for us," said Evan Greenberg, CEO of Chubb.
"Paris is the principal office for our Continental European operations and we have a significant investment there in both financial and human resources, as well as a large portfolio of commercial and consumer insurance business throughout France. Our many years of experience in the French market and working closely with the French regulators gives us great confidence in making this decision and reinforces our commitment to our staff, clients and distribution partners in both France and across the Continent."
Chubb joins a series of other insurers based in London that are moving operations away from the UK to make sure they will be able to continue serving EU customers after Brexit.
Joseph Wayland, Executive Vice President and General Counsel, said: "We have been encouraged by the assistance and cooperation provided by the French government as we have considered our post-Brexit options and we look forward to working closely with the French authorities as we move forward on this project. We are confident that locating our EU base in Paris will ensure that Chubb is well positioned to serve its clients whatever the ultimate terms of the UK's exit from the European Union."
Post-Brexit, Chubb will continue to have a substantial presence in London in addition to its offices and operations across the UK and EU.
Get the latest re/insurance news sent to your inbox every day - Sign up to our free email newsletters
Today’s news stories
Lloyd’s expected to be among hardest hit from Hurricane Irma
ILS framework could make London the global hub
AXIS bolsters renewable energy business with Aspen hire
Irma insured losses to reach up to $65bn: AIR
