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Liberty Gains Licence For New Luxembourg Company

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    • Regulation & Compliance

Liberty Specialty Markets has secured a licence for its European insurance company Liberty Mutual Insurance Europe SE (LMIE) to operate from Luxembourg...

While Liberty Specialty Markets will maintain its UK presence, the new licence means that Liberty will be able to continue conducting insurance and reinsurance business in Europe post-Brexit. The Luxembourg-based company will be led by Dirk Billemon, LMIE’s General Manager. Billemon, previously of Fortis Luxembourg, was recruited by Liberty earlier this year.

 

Matthew Moore, Liberty Specialty Markets’ President and Managing Director, said: “This new licence means that whatever the outcome of the Brexit negotiations, we will be able to deliver the certainty that our customers and staff need. It will be very much business as usual.”