MS&AD Insurance Group Holdings, owners of Japanese insurer Aioi Nissay Dowa, in November 2017 announced they would move their London-based subsidiary Aioi Nissay Dowa Insurance Company of Europe (ADE) to Luxembourg. The move is expected to be implemented in early 2018.
ADE today operates an insurance business in Europe centered on automobile insurance. In light of Brexit, Aioi Nissay Dowa has decided to restructure its European business organization. The future organization will include a holding company in the U.K. and two operating insurance companies, one in Luxembourg for the E.U. market and one in London for the U.K. market.
MS&AD has over 40,000 employees, 42 millions individual clients in Japan and 2,3 million corporate clients. MS&AD is the result of several mergers since 2001 that included Japanese insurers Mitsui, Sumitomo, Aioi, Nissay and Dowa.
Share this:
- More [5]
