Brexit prompts Japanese insurer to shift unit from London to Luxembourg

Posted On: Nov. 1, 2017 5:30 AM CST

Japan-based Aioi Nissay Dowa Insurance Co. Ltd. plans to move its subsidiary Aioi Nissay Dowa Insurance Company of Europe Ltd. from London to Luxembourg due to Brexit, Luxemburger Wort reported. Meanwhile, Aioi Nissay Dowa said that it would also establish Aioi Nissay Dowa Europe as a holding company in Britain in February 2018 and Aioi Nissay Dowa Insurance (U.K.) in September 2018.