In preparation for the UK's departure from the European Union (EU), the UK P&I Club has gained approval from financial regulators in the Netherlands to establish a Rotterdam-based subsidiary, UK P&I Club N.V. (UKNV).
The UK P&I Club, which is managed by international insurance services provider Thomas Miller, said the establishment of the subsidiary will ensure the club can continue to serve members after the UK leaves the EU. UKNV will also represent other clubs managed by Thomas Miller.
Andrew Taylor, chief executive of Thomas Miller P&I, explained that the measures taken by the UK P&I Club will provide continuity of service to its members, irrespective of the outcome or timing of Brexit.
Hugo Wynn-Williams, who will take on the role of ceo of UKNV, added: “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.”
Paul van den Brom and Rene Doff will take on the roles of chief financial officer and chief risk officer, respectively. The UKNV supervisory board, meanwhile, will consists of five members including: Onno Paymans as chairman, Nicholas Inglessis, Bert van der Weide, Jan Valkier and Paul Wogan.