LuxembourgBrexit Demand Prompts Dutch Firm to Launch New Luxembourg Team
The Dutch firm is the latest to respond to growing client demand to secure a presence in the EU.
March 06, 2019 at 12:20 AM
2 minute read
Growing Brexit-related demand for an EU presence has prompted Dutch firm NautaDutilh, one of the largest law firms in Benelux region, to launch a new insurance and reinsurance practice in Luxembourg.
The firm, which practises Dutch, Belgian and Luxembourg law, has hired counsel Miryam Lassalle from local Luxembourg law firm Arendt & Medernachas to lead a team of two banking associates, and an additional undisclosed hire from a rival firm's insurance practice.
Miryam Lassalle, NautaDutilh
The team will form part of the firm's banking and finance offering and was launched earlier this year in response to growing demand from insurance clients to open offices in Luxembourg, to maintain an EU presence after the UK's departure.
Lassalle said: "We have a large amount of UK insurance clients who are establishing offices in Luxembourg because of Brexit, because their UK entities will lose their EU licence and they will no longer be able to offer their product in other EU countries. So to address this, our clients need to establish themselves in a European country – and Luxembourg is an ideal place to do this."
DLA Piper and Simmons & Simmons made hires for their Luxembourg offices earlier this year, detailed in Legal Week research, and last year Ashurst and Eversheds Sutherland also launched offices in Luxembourg.
NautaDutilh has more than 400 lawyers, notaries and tax advisers.
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