Brexit: Luxembourg ahead of other European cities in attracting companies post Brexit vote | Luxembourg (Europe) | Scoop.it
From www.wort.lu - July 8, 2017 8:04 AM
One year after the Brexit vote, Luxembourg has succeeded in attracting many large insurance companies from London in the relocation race between major European financial centres.

On Tuesday, the insurer Liberty Specialty Market announced the implementation of part of its activities in the Grand-Duchy. This is the sixth insurance company to choose Luxembourg after AIG, Hiscox, FM Global, RSA, and CNA Hardy since the British referendum.

These "big insurers announced their decision to come to Luxembourg for their post-Brexit operations with activities that we did not really have yet", explains to the AFP the director of Luxembourg for Finance, the agency for the development of the financial centre, Nicolas Mackel.

But "it is not a race", says Luxembourg Finance Minister, Pierre Gramegna. The minister called for a "constructive and pragmatic" approach of the Grand-Duchy in the process of relocating companies from London.

 

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