A significant milestone in QBE’s Brexit plans has been achieved with the National Bank of Belgium (NBB) granting a licence to QBE’s new Belgian subsidiary, QBE Europe SA/NV (QBE Europe), ensuring QBE will enjoy continued passporting rights across the EEA.
QBE Europe will leverage the existing and substantial base that QBE has in Brussels and ensure a seamless transition of service for QBE’s insurance and reinsurance customers across Europe. QBE Europe will have branches in Bermuda, Denmark, France, Germany, Ireland, Italy, Spain, Sweden and the UK and intends to commence underwriting in Q4 2018.
Richard Pryce, Chief Executive Officer of QBE European Operations, said “Our priority throughout the Brexit process has been to provide seamless continuity and certainty for our customers and staff, whatever the final terms of the UK’s exit. I am delighted that our Brexit programme is on track and that we have reached this important stage in our plan to continue to provide a full service capability offering to our customers”
For further information contact:
Alexis Burris, Media Relations Adviser, QBE, +44 (0)20 3465 3921, Alexis.Burris@uk.qbe.com
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2017, was US$14.1 billion
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.