RSA will open a new office in Luxembourg in direct response to the UK’s decision to leave the EU. It will join a growing number of insurers that have chosen Luxembourg to set up an EU base post-Brexit, with AIG, Hiscox and FM Global already confirming new subsidiaries in the country.
According to reports, RSA’s new office will be staffed by a ten-strong team. It will serve as the company’s headquarters for existing offices in Belgium, France, Spain, the Netherlands and Germany. RSA’s EU branch offices form part of RSA’s Global Risk Solutions business.
An RSA spokesperson said: “While Brexit is not a major issue for RSA, the move allows the sensible reconfiguration of the branch network in light of the UK’s exit from the EU.
“Luxembourg is an ideal location with multinational expertise, strategically located within RSA’s existing EU branch network and has an experienced regulator.”
RSA added that this move supports its “current operating model, allowing it to continue to focus on its people, customers and brokers without interruption, all in all helping RSA to achieve its ‘best in class’ ambitions”.
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