Chubb chooses Paris af­ter Brexit

Yorkshire Post - Business - - MARKET REPORT -

US IN­SURER Chubb has cho­sen Paris to host its post-Brexit EU head­quar­ters in an­other blow to Bri­tain’s fi­nan­cial ser­vices in­dus­try.

It is un­clear whether the de­ci­sion will re­quire UK staff to re­lo­cate, and a spokes­woman for the in­surer said no de­ci­sion had yet been made on what the con­tin­gency plans would en­tail for its work­force.

The com­pany did not con­firm the size of the in­surer’s UK oper­a­tions but said its Euro­pean work­force to­talled around 3,600 staff.

Chubb’s chief ex­ec­u­tive and chair­man Evan G. Green­berg said that France was “a clear choice” for the firm.

“Paris is the prin­ci­pal of­fice for our Con­ti­nen­tal Euro­pean oper­a­tions and we have a sig­nif­i­cant in­vest­ment there in both fi­nan­cial and hu­man re­sources, as well as a large port­fo­lio of com­mer­cial and con­sumer in­sur­ance busi­ness through­out France.

“Our many years of ex­pe­ri­ence in the French mar­ket and work­ing closely with the French reg­u­la­tors gives us great con­fi­dence in mak­ing this de­ci­sion and re­in­forces our com­mit­ment to our staff, clients and dis­tri­bu­tion part­ners in both France and across the Con­ti­nent,” he added.

Chubb is the lat­est fi­nan­cial ser­vices firm to re­veal plans for its post-Brexit head­quar­ters, though most have turned to ri­val fi­nan­cial cen­tres in­clud­ing Frank­furt and Dublin.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.