Insurers continue flocking to Luxembourg as post-Brexit base

Claude Wirion, managing director of Luxembourg's insurance regulator, said that at least 11 nonlife insurers plan to set up their operations in the country to maintain access to the European market after Brexit, Delano reported. Mr. Wirion said that nonlife insurers' income grew nearly 46% in the first quarter and is expected to triple after all insurers begin their operations. Nonlife insurers have selected Luxembourg as their post Brexit base due to its specialized regulator for insurance and reinsurance and the country's political and fiscal stability, he added.

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