AIG picks Luxembourg for EU subsidiary

AIG has revealed plans to set up an insurance company in
Luxembourg to write EU business once the UK leaves the trade
bloc.
The Luxembourg subsidiary will be able to use the financial
services passport to write business across the EU and European
Economic Area after Brexit. The unit will open in 2019, subject to
regulatory approval.
AIG will retain its operation in London "to write UK
business", the US carrier said today.
Anthony Baldwin, chief executive of AIG Europe,...