QBE’s new European subsidiary has gained a licence from the National Bank of Belgium and will begin underwriting in the fourth quarter.

The insurer has located in Brussels, where it already has a branch, to ensure it can continue serving customers across the region following Britain’s exit from the European Union.

QBE European Operations CEO Richard Pryce says the group has focused on providing continuity and certainty for customers and staff, whatever the final terms of Brexit.

The European business will have branches in Bermuda, Denmark, France, Germany, Ireland, Italy, Spain, Sweden and the UK.