CNA Hardy, the specialist commercial insurer writing business within the Lloyd’s and company markets, announced that its new European subsidiary has successfully been granted an insurance company license by Luxembourg’s regulator, the Commissariat Aux Assurances (CAA).
CNA Hardy chose Luxembourg as the optimum jurisdiction for its European Union base due to its geographic location between three of its Continental European offices, its stable economic and political environment and the professional approach of the Luxembourg regulator, the company said in a statement.
“Brexit is following closely our preparations. Regulator in Luxembourg is an important milestone for us, “said CNA Hardy CEO Dave Brosnan. “Our brokers provide continuity and certainty for our customers and our employees. We are committed to improving our European operations and our new headquarters in Luxembourg will only increase our capacity to do so. “
Continental Europe CEO Stuart Middleton began recruiting the management team of Luxembourg. Recent appointments include Bertrand Mohr, chief risk officer, and Amandine Motte, chief financial officer.
Prior to joining CNA Hardy, Motte held senior management positions in Switzerland RE and Deloitte, and Mohr was the chief risk officer at Dare Holdings.
CNA Hardy will continue to trade throughout Continental Europe through its fully owned office network and Lloyd’s platform, Syndicate 382.
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