We use cookies to improve this site and enable full functionality. You can change your cookie settings at any time using your browser. Our cookie policy.

UK P&I Club secures go-ahead for Brexit subsidiary

UK P&I Club secures go-ahead for Brexit subsidiary | Insurance Business

UK P&I Club secures go-ahead for Brexit subsidiary

The UK P&I Club has been given the green light for its Brexit subsidiary in the Netherlands.

According to the marine insurer, the country’s financial regulator has approved the licence for UK P&I Club N.V. (UKNV), which will facilitate continued service to members even with Britain’s departure from the European Union.

Based in Rotterdam, the now operational subsidiary at World Port Centre will also be used by other clubs managed by Thomas Miller. 

UKNV is led by chief executive Hugo Wynn-Williams with the support of chief financial officer Paul van den Brom and chief risk officer Rene Doff. Aside from the management team, a five-member supervisory board chaired by Onno Paymans has also been announced.

Read more: UK P&I Club reveals post-Brexit pick

“We have been assiduous in our planning to ensure the UK P&I Club, together with other Thomas Miller managed clubs, are able to continue our European operations once the UK leaves the EU,” commented Wynn-Williams.

“With the expected loss of passporting rights, we have put these plans in place to ensure our members can continue to conduct their business with little or no disruption.”

Meanwhile Thomas Miller P&I CEO Andrew Taylor said continuity of service will be provided regardless of the outcome or timing of the UK-EU divorce.

“Our long-term planning has ensured we have the relevant authorisations in place prior to the UK leaving the EU,” noted Taylor.

“However, this is not a brass plate exercise and our Rotterdam subsidiary will be a fully functioning office to ensure our members continue to receive the same excellent standard of service they are accustomed to.”