LONDON 06 June 2017 – CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd's and company markets, has announced its intention to establish a new European subsidiary in Luxembourg.
David Brosnan, CEO of CNA Hardy said: "We are in the business of providing certainty for our customers, and in an increasingly uncertain political environment, we must ensure we act now to provide continuity to our employees, customers and brokers. Luxembourg is the optimum jurisdiction for our European Union base due to its geographic location between three of our Continental European offices, its stable economic and political environment and the professional approach of the Luxembourg regulator. We will be recruiting a local management team to be based in Luxembourg, comprising risk, finance and compliance functions."
Dino Robusto, Chairman and CEO of CNA said: "After the result of the referendum last year, we began planning to ensure we maintained our ability to write and service European Union business. We are committed to our operations within Europe, and building upon our global reach. Establishing a new subsidiary in Luxembourg will enhance our ability to do just that."
The process of establishment is already underway, and expected to be complete by early 2019.
About CNA Hardy
CNA Hardy, acting through Hardy (Underwriting Agencies) Limited and CNA Insurance Company Limited, independent wholly-owned UK subsidiaries, are a leading specialist commercial insurance provider for clients within both the Lloyd's and company markets. For more information, please visit CNA Hardy at www.cnahardy.com.
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Serving businesses and professionals since 1897, CNA is the 14th largest commercial insurance in the U.S. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. "CNA" is a service mark registered by CNA Financial Corporation with the United States Patent and Trademark Office. Certain CNA Financial Corporation subsidiaries use the "CNA" service mark in connection with insurance underwriting and claims activities.
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CNA Insurance Company Limited (company registration number 950) and Hardy (Underwriting Agencies) Limited (company registration number 1264271) are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (firm reference number 202777 and 204843 respectively). CNA Services (UK) Limited (registered number 8836589). 'CNAHardy' is a trading name of CNA Insurance Company Limited and Hardy Underwriting Group PLC (which includes Hardy (Underwriting Agencies) Limited and Hardy Underwriting Asia PTE). VAT registration number 667557779.
The above companies are all registered in England with their registered office at 20 Fenchurch Street, London, EC3M 3BY.
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