LONDON, Aug. 2, 2018 /PRNewswire/ -- CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd's and company markets, has announced that its new European subsidiary has successfully been granted its Insurance Company Licence by the Commissariat Aux Assurances (CAA) in Luxembourg.
CNA Hardy chose Luxembourg as the optimum jurisdiction for its' European Union base due to its geographic location between three of its' Continental European offices, its stable economic and political environment and the professional approach of the Luxembourg regulator.
Dave Brosnan, CEO, CNA Hardy said: "Our preparations for Brexit are firmly on track. The granting of our Insurance Company Licence by the Luxembourg regulator is an important milestone for us. It ensures continuity and certainty for our brokers, customers and our staff. We are committed to developing our European operations and our new European subsidiary, head officed in Luxembourg will enhance our ability to do just that."
Stuart Middleton, CEO, Continental Europe, has already begun to recruit his local management team. Recent appointments include Bertrand Mohr, Chief Risk Officer and Amandine Motte, Chief Financial Officer.
Stuart said: "I'm delighted to welcome Bertrand and Amandine to the team. Both bring a wealth of experience and dynamism to CNA Hardy and their deep knowledge and expertise of the local and wider European market place will prove a significant asset in the months and years to come.
Before joining us Amandine held senior management roles at Swiss RE and Deloitte, and Bertrand served as Chief Risk Officer most recently at Dare Holdings.
CNA Hardy will continue to write business across Continental Europe through their network of wholly owned offices and Syndicate 382, their Lloyd's platform.
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.
CNA is the eighth largest commercial insurer in the United States. CNA provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada, Europe and Asia, backed by 120 years of experience and more than $45 billion of assets. For more information about CNA, visit our website at www.cna.com.
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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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SOURCE CNA Hardy