Press Release- Brexit: UK 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.”
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For further details, please contact:
Jonathan Atkins / Alastair Doyle / Helen Cotton
+44 (0) 20 3697 4200
Notes to Editors
The UK P&I Club is a leading provider of P&I insurance and other services to the international shipping community. Established in 1865 the UK P&I Club insures over 235 million tonnes of owned and chartered shipping through its international offices and claims network. ‘A (Stable)’ rated by Standard & Poor’s with free reserves and hybrid capital of $597m the UK P&I Club is renowned for its specialist skills and expertise which ensure ‘best in class’ underwriting, claims handling and loss prevention services.
The UK P&I Club is managed by Thomas Miller, an independent and international insurance, professional and investment services provider.
Thomas Miller is an independent and international provider of insurance, professional and investment services.
Founded in 1885, Thomas Miller’s origins are in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today they manage a large percentage of the foremost insurance mutuals. Thomas Miller also manages insurance facilities for all the self-employed barristers in England & Wales, as well as trustees of pension schemes, patent agents and housing associations.
Principal activities include:
- Management services for transport and professional indemnity insurance mutuals
- Investment and wealth management for institutions and private clients
- Professional services
- Building defects insurance