Lloyd's Brussels subsidiary granted regulatory approval

Lloyd's announced its Brussels unit has received license approval from the National Bank of Belgium. Vincent VANDENDAEL will take up the post of CEO of the newly established Lloyd's Brussels in addition to his role as Lloyd's CCO.

The license means that Lloyd's Brussels will be able to write non-life risks from the European Economic Area (EEA), ensuring that Lloyd's customers can continue to access the market's specialist underwriting.

Inga BEALE, Lloyd's CEO, said that since the UK referendum on EU membership Lloyd's has been working hard to ensure that whatever the outcome of the Brexit negotiations its partners across the EEA will continue to enjoy access to Lloyd's offering.

"Lloyd's Brussels will be at the forefront of our modernization drive, with a platform in one of our most important markets that harnesses all the benefits of Lloyd's whilst utilizing the latest technology, expertise and talent available."

Minister of Finance, Johan Van OVERTVELDT, said: "By establishing an insurance company in Brussels, Lloyd's will significantly strengthen Brussels as a financial center and build a bridge to London for specialized insurance and re-insurance. We are looking forward to welcoming more London-based insurance companies and brokers to Brussels, which lies at the heart of Europe and is home to the main European decision-making centers."

Regulated by the National Bank of Belgium and fully Solvency II compliant, Lloyd's Brussels will start writing business from 1 January 2019.

Share |

Related articles

Aon: changes in the leadership structure following restructure

Aon plc announced today that Andrew MARCELL has been appointed CEO of Reinsurance Solutions. Prior to the today change, Eric ANDERSEN, CEO of Aon Benfield, and Michael O'CONNOR, CEO of Aon Risk Solutions, have been appointed Co-Presidents on 15 May.

2018-05-31

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

LIVE: BAKU: "Insurance in Azerbaijan: New perspectives" Conference

The annual and most important insurance event within the Caucasus region - "Insurance in Azerbaijan: New perspectives", started today, in Baku, organized by XPRIMM and Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.

20.06.2018

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all