Chubb is set to move its European Union headquarters in France once the UK leaves the EU as scheduled in March 2019.

The relocation of head office to Paris post-Brexit for its Continental European operations is subject to obtaining all necessary regulatory and other governmental permissions.

Chubb chairman and CEO Evan Greenberg said: “Locating our European Union headquarters in France post-Brexit is a clear choice for us.

“Paris is the principal office for our Continental European operations and we have a significant investment there in both financial and human resources, as well as a large portfolio of commercial and consumer insurance business throughout France.

“Our many years of experience in the French market and working closely with the French regulators gives us great confidence in making this decision and reinforces our commitment to our staff, clients and distribution partners in both France and across the Continent.”

Chubb executive vice president and general counsel Joseph Wayland stated: “We have been encouraged by the assistance and cooperation provided by the French government as we have considered our post-Brexit options and we look forward to working closely with the French authorities as we move forward on this project.

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“We are confident that locating our EU base in Paris will ensure that Chubb is well positioned to serve its clients whatever the ultimate terms of the UK’s exit from the European Union.”

Chubb further said that post-Brexit, the company will continue to have a substantial presence in London besides its branches and operations across the UK and EU.