Chubb to establish EU headquarters in France if UK leaves EU
The decision to choose France as Chubb's preferred post-Brexit headquarters for its Continental European operations is contingent on receiving all necessary regulatory and other governmental approvals.
"Locating our European Union headquarters in France post-Brexit is a clear choice for us," said Evan G. Greenberg, chairman and chief executive officer.
"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."
"We have been encouraged by the assistance and cooperation provided by the French government as we have considered our post-Brexit options and we look forward to working closely with the French authorities as we move forward on this project," said Joseph Wayland, executive vice president and general counsel.
"We are confident that locating our EU base in Paris will ensure that Chubb is well positioned to serve its clients whatever the ultimate terms of the UK's exit from the European Union."
Post-Brexit, Chubb will continue to have a substantial presence in London in addition to its offices and operations across the UK and EU.
Chubb is the world's largest publicly traded property and casualty insurance company.
With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ■