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Chubb said the move is dependent on receiving regulatory and other government approvals. The firm said it will continue to have a substantial presence in London, as well as its offices and operations across the UK and EU, post-Brexit.
“Locating our European Union headquarters in France post-Brexit is a clear choice for us,” said Evan Greenberg, chairman and 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 give us great confidence in making this decision and reinforce our commitment to our staff, clients and distribution partners in both France and across the continent,” he added.
Chubb’s executive vice-president and general counsel at Chubb, Joseph Wayland, said the insurer has been encouraged by the assistance and cooperation it has received from the French government while considering its post-Brexit options.
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