CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets, has announced that its new European subsidiary has successfully been granted its Insurance Company Licence by the Commissariat Aux Assurances (CAA) in Luxembourg.
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.
Dave Brosnan, CEO, CNA Hardy said: “Our preparations for Brexit are firmly on track. The granting of our Insurance Company Licence by the Luxembourg regulator is an important milestone for us. It ensures continuity and certainty for our brokers, customers and our staff. We are committed to developing our European operations and our new European subsidiary, head officed in Luxembourg will enhance our ability to do just that.”
Stuart Middleton, CEO, Continental Europe, has already begun to recruit his local management team. Recent appointments include Bertrand Mohr, Chief Risk Officer and Amandine Motte, Chief Financial Officer.
Stuart said: “I’m delighted to welcome Bertrand and Amandine to the team. Both bring a wealth of experience and dynamism to CNA Hardy and their deep knowledge and expertise of the local and wider European market place will prove a significant asset in the months and years to come.
Before joining us Amandine held senior management roles at Swiss RE and Deloitte, and Bertrand served as Chief Risk Officer most recently at Dare Holdings.
CNA Hardy will continue to write business across Continental Europe through their network of wholly owned offices and Syndicate 382, their Lloyd’s platform.