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News: Top Stories

Luxembourg explained - a RISKbitz FAQ

With so many London market companies now rushing to establish an EU base in Luxembourg, a number of RISKbitz readers - especially those in the US - have contacted us to ask for a primer on the secretive principality.


Where is Luxembourg?
Luxemburg (also Luksem Borg in Swedish) is a landlocked country in Western Europe that is a lot bigger than it looks. Bordered by Belgium, Germany, the Netherlands, France and Switzerland as well as Italy it is about the same size as Radnorshire.

Where is Radnorshire?
Radnorshire is a landlocked county between England and Wales that is bigger than Rutland but smaller than Middlesex.

Is it just a city or does it have some landscape as well?
It has mountains of money and rivers flowing with securities

Is there anything to do there?
Shopping. The clue is in the country's name - Lux (latin for luxury) and Bourg (greek for place).

Sounds nice: is it easy to get too
Luxemberg is a 10 minute walk from Brussels via a tunnel. A number 15C bus goes there from outside the Gherkin hourly. What do you think?

Why are insurers moving there, does it have good restaurants?
Insurers are moving there because unlike the UK, Luxembourg is going to remain part of Europe for the foreseeable future. In fact, it is one of the three capitals of the European Union and home to the European Court of Justice.

But I thought we were against all that EU stuff?
Look… It has an established financial services sector. Companies such as Amazon are based there due to its business friendly tax structures.

But it must have good restaurants for insurers to want to go there?
Yes, it does have very good restaurants. The national dish, Welthensuppe, is famous for its rich ingredients, which are a secret.

What else has it got going for it?
Er, it's not in the UK.

Travelating the Wave of Insurability
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