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John Charman, chairman of Bermuda-based insurer and reinsurer Sompo International Holdings Ltd., said that the insurer plans to set up a new headquarters in Luxembourg for its European operations as part of its Brexit strategy, The Royal Gazette reported. "Establishing SI Insurance (Europe) in Luxembourg will be the first step in our plan to create a strong position in the European commercial property/casualty marketplace," Mr. Charman said. Sompo International expects regulatory approval for its plans in the second quarter of 2018.