“It is important to us to locate ourselves in a robust regulatory environment, and Luxembourg offers us exactly that,” LSM president and managing director Nick Metcalf said in a company press release. “The regulator is well-respected, pragmatic, and insurance-specific and so understands the market very well.”

LSM offers commercial and specialty insurance in addition to reinsurance products internationally. The company performed a detailed analysis on jurisdictions with the goal of complementing its European strategy with “minim[al] disruption” to employees, clients and policy holders, according to Metcalf.

LSM is part of the Liberty Mutual Insurance Group, which in 2016 boasted $20 billion in equity and climbed to 73 on the Fortune 500 list. LSM has 22 offices worldwide with around 1,000 employees.