The High Court of England and Wales has approved AIG’s Brexit restructure, clearing the way for a shake-up of European operations.

AIG will transfer all business from AIG Europe into two new entities, AIG UK and AIG Europe SA, and then merge with AIG Europe SA. The UK business will continue to be based in London, while European operations will be in Luxembourg.

The two-entity structure will allow AIG to serve customers in the UK and Europe regardless of what form the relationship between the two takes.