UK P&I Club forms post-Brexit EU hub in Netherlands
UK P&I Club, a provider of protection and indemnity insurance to the international shipping community, is set to establish a new European subsidiary in the Netherlands.
Hugo Wynn-Williams, CEO of Thomas Miller P&I said: "Although the precise future trading relationship between the UK and the EU remains uncertain, we are putting arrangements in place that will allow the UK Club to continue to provide cover for our members regardless where their ships are registered. The Club remains committed to doing business within Europe.
"The Netherlands is, in our view the optimal jurisdiction for the Club’s European Union subsidiary due to its convenient location with excellent transport links, its proximity to major markets, stable business environment, use of English for business, and a regulatory system which provides the best fit for our operational model."
Wynn-Williams added: "The new subsidiary will also be in a position to front for other Thomas Miller managed clubs affected by Brexit. As a result, this will enable costs to be shared, providing the most efficient solution to continuing operations in Europe. The process of establishing a subsidiary is already underway, and expected to be completed during 2018."
Don't miss the latest industry news - Sign up to our free email newsletters
Other news from this morning's newsletter
Neon poaches MS Amlin chief financial officer
Chinese insurer targeting Lloyd’s retro business forms in Guernsey
Emirates Retakaful faces uncertainty after CEO, CFO resignations
Intense price competition weighs on UK non-life company market
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze