French regulator ORIAS has given London-based InsurTech Zego a French insurance broker licence.
Zego stated at the licence will support the company’s continued expansion across Europe and help it avoid any regulatory red tape cause by Brexit.
Zego currently operates in five countries including the UK, Ireland, France, Belgium and Spain.
“Europe is a huge market for us with a lot of exciting opportunities, and by securing a French broker licence, we have given ourselves the freedom to operate without any friction post-Brexit,” said Sten Saar, CEO and Co-Founder of Zego.
“Just like the UK, in Europe we’re seeing a gradual shift from the ownership of vehicles to usership, and our flexible and modern approach to insurance puts us in a great position to meet new demand arising from this trend.”
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