After a number of years of uncertainty, the new regulatory regime for insurance firms in Europe, Solvency 2, came into force on 1 January 2016. The Club’s underwriting vehicle, UK Europe, sits under this solvency regime as an entity based in the UK.

The Club’s extensive preparation has facilitated a smooth transition to the new regime. Part of this preparation has been to secure approval from the regulator for the treatment of a number of elements of the capital calculation.
The most complex regulatory approval related to the Club’s internal model. This sophisticated model is employed within the business to facilitate financial and capital management and help the Board determine the impact of key strategic decisions.

The Board was delighted to hear that the Club was one of a select number of firms to receive approval to use an internal model to determine regulatory capital requirements. The model is specifically tailored to the UK Club, and therefore provides a more accurate and comprehensive view of the Club’s risks, which in turn enables the Club to hold less capital than if the more general standard factors were to be applied.

Emergency Contacts

If you need to call our offices out of hours and at weekends, click After Office hours for a up to date list of the names of the Duty Executives and their mobile phone numbers. 

Ship Finder

This Ship Finder is updated on a daily basis. Members who need to advise the Club of updates to their recorded ships' details should advise their usual underwriting contact.