The initiative by the City of Cologne to promote itself as the leading centre of insurance and reinsurance in Germany was given a significant boost this week as Berkshire Hathaway Specialty Insurance (BHSI) confirmed its decision to relocate to the city from Düsseldorf in June.
UK and German Insurance experts gather in London to discuss post-Brexit options. UK insurers and reinsurers advised to consider longer term options offered by mature insurance centres such as Cologne to maintain access to huge EU insurance market. Adrian Ladbury reports.
NRW.INVEST, the economic development agency of the huge North Rhein Westphalia region of Germany, is to hold a roundtable discussion on the changing investment trends for insurance companies and asset managers in the light of the UK’s departure from the European Union (Brexit) in London on March 11.
UK insurers keen to continue German business still need local base despite BaFin’s potential passporting extension
UK insurers that have customers in Germany will be pleased to hear that the German legislator has passed a measure that allows the financial supervisor – Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) – to adopt a temporary order that will allow insurers to continue to honour contracts in the country in the event of a no-deal Brexit.