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The move, which was approved by regulators in July 2018, provides Chubb customers with continuous, uninterrupted service regardless of the outcome of Brexit negotiations between the UK and the European Union, said Chubb in a statement.
David Furby, regional president, Chubb European Group, said, “Chubb has focused on delivering clarity, continuity of service and certainty for our customers, brokers and other partners, regardless of the final outcome of Brexit. We’re pleased that the redomicile of Chubb European Group’s businesses to France has been completed as planned.”
Both Chubb European Group SE and ACE Europe Life SE now operate under the supervision of the French regulator ACPR, and they also operate in the UK – until further notice – as a passported EEA branch. Both entities are subject to regulation by the Financial Conduct Authority in the UK.
Full article on Insurance Journal