Chubb European Group has concluded the planned redomiciling of its business to France from the UK as part of its preparations for Brexit in March this year.
The Chubb France move will enable the company to provide its customers with continuous, uninterrupted service regardless of the outcome of Brexit negotiations between the UK and the EU.
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Chubb France move
The redomiciling to Paris is effective from 1 January.
In September 2017, Chubb announced that the company will move its EU headquarters in France. In July 2018, Chubb secured authorisation from the board of the French supervisor Autorité de Contrôle Prudentiel et de Résolution (ACPR) to redomicile the businesses to France from 1 January 2019.
Subsequently, Chubb European Group and ACE Europe Life have been converted to Societas Europaea (SE) to facilitate redomiciling of businesses to France ahead of Brexit.
Chubb European Group regional president David Furby said: “Chubb has focused on delivering clarity, continuity of service and certainty for our customers, brokers and other partners, regardless of the final outcome of Brexit. We’re pleased that the redomicile of Chubb European Group’s businesses to France has been completed as planned.”
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By GlobalDataNow, both Chubb European Group SE and ACE Europe Life SE will operate under the supervision of the French regulator ACPR and operate in the UK as a passported EEA branch.
Recently, the firm introduced a new supplemental healthcare insurance product, which will repay consumers for qualifying out-of-pocket expenses.
With the new proposition, co-payment and co-insurance costs are eligible for coverage. These include costs related to certain hospital, outpatient as well as doctor’s office visits.
Commenting on the new product, Chubb North America Accident & Health senior vice president of affinity solutions Chris Howard said: “The changing healthcare marketplace continues to challenge employers who are looking for efficient and cost-effective benefit solutions for their employees. As a result, rising healthcare and coverage costs are increasingly being borne by consumers.
“Through Chubb’s extensive experience and deep industry knowledge, this Gap Supplement product helps to fill holes in coverage associated with high out-of-pocket deductibles, co-payments and co-insurance expenses – especially those that may be a result of unanticipated medical events.”
