Brexit / QBE chooses Brussels

Paris, 6 June 2017, QBE secures the support of its partners, brokers and customers in the context of the Brexit, and chose Brussels as the location for the establishment of a new insurance company within the European Union

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QBE, the specialist in business insurance, today announced its intention to create a new subsidiary in Belgium in order to maintain its ability to perform its activities across the European Union (EU), in the case where the exit of Britain from the EU would lead to the disappearance of the ” european passport “.

Richard Pryce, president and CEO of QBE European Operations, said : “Our priority is to reassure our customers and our staff. Also, our decision to establish a subsidiary in Belgium will allow us to ensure the continuity of services, regardless of the outcome of the negotiations of the Brexit. For our clients, broker partners and our staff, nothing will change, QBE continuing to operate its business in continental Europe “.

QBE is present in Belgium since many years, through its branch in brussels. This factor has weighed heavily on our final choice of implementation of our new subsidiary, and the political centrality played by Belgium in the EU, its geographical location and the presence of a local regulator demonstrating a constructive will.

Richard Pryce said : “We are already well established in Brussels and we will build on our existing talents in the belgian capital to fill key positions within the newly created company. In addition, the National Bank of Belgium has been very cooperative and supports our implementation schedule “.
The headquarters of QBE European Operations will remain in London, and the new belgian entity should be operational in 2019. This evolution will enable QBE to assist its clients and brokers across the EU from its existing offices in eight european countries, while also dealing the business from continental Europe, which are today placed on the London market.

About QBE France
Insurance specialist for businesses and professionals, QBE France, their offers through their broker, dealer, insurance solutions that are both innovative and tailored to their needs.
Able to support companies in France as well as international, QBE France operates in the branches : Property, General Liability, Construction, Lines, and financial Security.
Present in Paris, QBE France also has 4 regional offices located in Lyon, Strasbourg, Nantes and Bordeaux to be closer to the companies and their broker.

Group QBE
The Group, QBE, rated A+ by Standard & Poor’s, is one of the leading insurers and global reinsurers. Fort 14.200 employees, the Group QBE operates in the major insurance markets in the world. Listed on the Sydney stock exchange, QBE has achieved a turnover 2016 by $ 14.1 billion US$ (gross written premiums).

QBE France is part of QBE European Operations, which accounts for almost one third of the turnover of the Group.

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