Brexit: UK P&I Club to set up a subsidiary in the Netherlands
The UK P&I Club, a leading provider of P&I insurance and other services to the international shipping community, has announced its intention 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.
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.www.ukpandi.com
Thomas Miller Group
You may also be interested in:
Thomas Miller, the international provider of market leading insurance services, intends to appoint Hugh Titcomb as its new Chief Executive, subject to shareholder approval, replacing Bruce Kesterton.
The UK P&I Club, a leading provider of P&I insurance and other services to the international shipping community, confirmed it has won approval from the Netherland's financial regulator for a licence for its Rotterdam-based subsidiary UK P&I Club N.V. (UKNV).
The UK P&I Club, one of the leading providers of P&I insurance and other services to the international shipping community, has appointed William Beveridge as its new Chief Underwriting Officer. He joins the UK Club on completion of his current employment obligations.
The UK P&I Club, a leading provider of P&I insurance and other services to the international shipping community, has announced an initial shortlist of ten finalists for its 'Investing in a Safer Tomorrow' global maritime competition which coincides with the Club's 150th anniversary.