Luxembourg Stakes Brexit Claims as Grand Duchy Attracts Insurers
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Luxembourg is seeking to persuade at least two additional global insurers to make their post-Brexit home there after attracting American International Group Inc. and Sompo International Holdings Ltd., the head of its financial lobbying group said.
“Contingency planning has started, but in September-October it will be crunch time,” Nicolas Mackel, the head of Luxembourg for Finance, said in an interview in Paris, without giving names of companies it’s in talks with. Staff flows from London in favor of Luxembourg are accelerating in areas such as money-management, he said, pointing to Citigroup Inc.’s plans to make it a hub for its private banking business.