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London-based AM Best Europe is currently registered with the ESMA in Paris. This allows the company to provide rating services in the EU through cross-border passporting rights, but these have been left uncertain under current Brexit negotiations.
AM Best said its London office will continue to be a hub for the EMEA region and will now register with the UK’s Financial Conduct Authority regulator. AM Best said the London office would also extend the firm’s business to international markets outside Europe.
“The Amsterdam office reinforces AM Best’s ambitious growth agenda for continental Europe and demonstrates our commitment to providing continuity of rating services throughout the EU post-Brexit, whilst developing our coverage in other international markets across the broader EMEA region from London,” it said.
AM Best added that it will adapt its plans if a transitional arrangement is agreed between the UK and EU in Brexit negotiations.
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