UK Club obtains authorisation for Netherlands subsidiary
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 new subsidiary will ensure the UK Club, together with other Thomas Miller managed Clubs for which UKNV is fronting, can continue to serve Members after the United Kingdom leaves the European Union.
The UKNV Rotterdam office is located in the World Port Center and the management board based in Rotterdam consists of:
The UKNV Supervisory Board consists of five members; two local Members and three from the UK (Europe) Board and Members’ Committee.
UKNV has recruited staff to additional support roles and the office is operational.
Hugo Wynn-Williams, CEO, UK P&I Club (UKNV), says: “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. 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.”
Andrew Taylor, Chief Executive of Thomas Miller P&I, says: “The measures taken by the UK Club will provide continuity of service to our Members, irrespective of the outcome or timing of Brexit. Our long term planning has ensured we have the relevant authorisations in place prior to the UK leaving the EU. 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.”
For further details, please contact: Jonathan Atkins / Alastair Doyle Four Communications UKP&I@fourcommunications.com / +44 (0) 20 3697 4200
Notes to Editors
About UK P&I Club The UK P&I Club is a leading provider of P&I insurance and other services to the international shipping community. Established in 1869, the UK P&I Club insures over 244 million tonnes of owned and chartered shipping through its international offices and claims network.
The UK P&I Club is managed by Thomas Miller, an independent and international insurance, professional and investment services provider.
About Thomas Miller
Thomas Miller is an international provider of market leading insurance 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. Increasingly Thomas Miller applies its knowledge and expertise to the development of specialist businesses.
Principal activities include: