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Belgian central bank grants insurance license to Amlin

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Belgian central bank grants insurance license to Amlin

The National Bank of Belgium approved a license for Amlin Insurance SE to operate as a nonlife insurer in Belgium, and to develop a reinsurance business.

Amlin joined Lloyd's of London's Lloyd's Insurance Co. and QBE Insurance Group Ltd.'s QBE Europe SA/NV in receiving a Belgian license, for which all three applied as part of moves to set up a base in the country in preparation for the U.K.'s exit from the European Union in 2019.

Additionally, Navigators Group Inc. was granted approval to acquire the whole of the capital in ASCO, a Belgian insurance undertaking. Navigators said in December 2017 that it would buy Assurances Continentales – Continentale Verzekeringen NV and Bracht Deckers & Mackelbert NV for €35 million in cash.

Amlin Insurance is part of Japan-based MS&AD Insurance Group Holdings Inc.