Insurer RSA picks Luxembourg for EU subsidiary

LONDON, June 5 (Reuters) - British insurer RSA is planning a subsidiary in Luxembourg to act as the headquarters of its European Union operations following Britain's decision to leave the bloc, the firm said on Monday.

"While Brexit is not a major issue for RSA, the move allows the sensible reconfiguration of the branch network in light of the UK’s exit," RSA said in a statement.

It added that it chose Luxembourg because it had "multi-national expertise", was "strategically located within RSA’s existing EU branch network" and had an experienced regulator.

The Luxembourg subsidiary will act as headquarters for RSA's EU branches in Belgium, France, Germany, Spain and the Netherlands, it said.

(Reporting by Carolyn Cohn; editing by Maiya Keidan)