Lloyd’s Insurance Company SA – Lloyd’s Europe – has closed its branches in Austria, Finland and Poland following the withdrawal of Freedom of Establishment authorisation in these countries.

In a statement, Lloyd’s Europe said: “Lloyd’s Insurance Company S.A. (“Lloyd’s Europe”) would like to inform the market that from 31 July 2023 it will no longer provide non-life insurance business services on a Freedom of Establishment basis in Austria, Finland and Poland but will solely operate on a Freedom to provide Services basis. The National Bank of Belgium (“NBB”), as Lloyd’s Europe’s home supervisor, has confirmed it has no objection to the change.

“Lloyd’s Europe continues to pursue insurance and reinsurance opportunities in Austria, Finland and Portugal both through open market placements and through coverholders located both outside and within Austria, Finland and Poland.”

The statement added: “Managing agents should note the change in arrangements set out above and must ensure that where the General Representative in Austria, Finland and Poland is nominated to receive service of suit, the service of suit clause is adjusted and another nominee is chosen or if no nominee is chosen by the managing agent, proceedings are to be served on Lloyd’s Europe's head office in Brussels.”

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