In the wake of Britain’s decision to withdraw from the EU, commercial insurers CNA Hardy have chosen Luxembourg for their European subsidiary office, due to open at the end of 2019. 

“Luxembourg is the optimum jurisdiction for our European Union base due to its geographic location between three of our Continental European offices, its stable economic and political environment and the professional approach of the Luxembourg regulator,” said David Brosnan, CEO of CNA Hardy, in a statement published today. 

“We are in the business of providing certainty for our customers, and in an increasingly uncertain political environment, we must ensure we act now to provide continuity to our employees, customers and brokers,” said Brosnan.

The company said they will be recruiting a local management team tasked with risk, finance and compliance functions.