SquareTrade Europe, the European arm of Allstate-owned device protection provider SquareTrade, has launched a licensed insurance entity in Brussels, bringing underwriting capabilities in-house as it looks to accelerate growth across the region.
The newly established SquareTrade Europe Insurance marks a shift for the business, giving it direct control over underwriting, product development and insurance operations across its European footprint. The move is designed to support faster product launches while reducing reliance on third-party underwriting partners.
SquareTrade Europe currently operates across 15 markets, including Germany, Spain and the Nordic region, working with 26 consumer electronics retailers and telecommunications providers. The company supports more than nine million active customers across Europe.
By obtaining its own insurance licence, SquareTrade Europe will oversee underwriting internally, allowing for greater oversight of pricing, product design and operational consistency across multiple jurisdictions. The new structure is also expected to provide additional flexibility as the business expands into new markets and product categories.
The insurer has received regulatory approval from the National Bank of Belgium and will operate from its Brussels headquarters. Through passporting rights, SquareTrade Europe Insurance will be able to provide insurance services across the European Economic Area, supporting the company’s long-term regional expansion strategy.
SquareTrade Europe Insurance chief executive officer Alastair Douglas said, “Becoming a licensed insurer gives us greater control across the value chain and the ability to innovate faster. With a new headquarters in Brussels and more than nine million customers across Europe, we have the scale, the foundation and the market insight to design more integrated, scalable solutions that better serve customers – going beyond what has traditionally been available.”
SquareTrade Europe Insurance chairwoman of the board Cécile Coune added, “Brussels is ideally positioned as a base for our new entity, given its strong credentials in insurance and financial services. This is an important milestone in our European growth strategy and creates the platform for continued expansion across the region. By bringing insurance capabilities in-house, we will be able to respond more quickly to changing partner and customer needs and deliver more seamless protection experiences at scale across European markets.”
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