RSA Gets License Approval for Luxembourg Office
RSA Insurance Group in June 2018 said it received regulatory approval for its new insurance subsidiary in Luxembourg from the Commissariat aux Assurances (CAA). RSA, a P/C carrier, previously operated outside of the UK by way of an EU branch, focusing on large commercial clients. It writes approximately £350m in GWP and has over 5,000 commercial policyholders including the UK.
Richard Turner, who currently oversees EU business from the UK will take up the director role for RSA Luxembourg, reporting into RSA Global Risk Solutions, led by managing director Tony Buckle. As of mid-June 2018, the “dirigeant agréé” (licensed CEO) of RSA Luxembourg is Mark Marshall, Brexit Project Director at RSA.
Updated in September 2018: Richard Turner now is the “dirigeant agréé” (licensed CEO) of RSA Luxembourg.