Brexit also prompts insurer QBE to choose Brussels

Following in the footsteps of Lloyds of London, QBE, an insurance group originally based in Australia, has announced the establishment of a European subsidiary in Brussels. Here too, Brexit is the specific impetus for this move. The rationale behind QBE’s selection of Brussels includes, among others, its central geographic location, the political role that Belgium plays in the EU, its sound regulatory framework and the supervisory authority’s constructive approach.

QBE specialises in business insurance and is among the top 20 insurers worldwide. “We are especially pleased to be able to again welcome another major name to Brussels so soon after Lloyd’s,” Minister of Finance Johan Van Overtveldt says.

Expanding the financial landscape

“This announcement proves that our efforts to boost Brussels as a financial centre are paying off. What’s more, by focusing on specific activities such as insurance, market infrastructure and innovative financial technology we are expanding the Brussels financial landscape even further,” Minister Van Overtveldt concludes.