Newline Group launches Brexit hub in Germany; appoints CEO
London-based specialty insurer Newline Group has launched its new European Union insurance hub in Cologne, following authorisation from the German Federal Financial Supervisory Authority (BaFin).
Newline Europe Versicherung AG (Newline Europe), a subsidiary of Newline Insurance Company, will be led by Manuel Wirtz as chief executive officer.
Wirtz was previously Newline’s general representative for Germany.
“Newline’s history of underwriting German-based insurance risks dates back to 2002, so we are delighted to strengthen our footprint in Cologne and expand our platform by providing seamless and continuous service to our clients throughout Europe in the post-Brexit environment,” said Carl Overy, CEO of Newline Group.
Wirtz commented: “We are very pleased that BaFin has approved our application. We have already seen the benefit of having local underwriting and claims handling teams, and this approval will allow us to continue providing our insurance solutions in Germany as well as in our neighbouring countries in the European Economic Area.”
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