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Insurers Seek New Port In Ireland Amid Brexit Storm

26th November 2017
Dublin Port could be host to new EU subsidiaries of at least two top global marine insurers next year Dublin Port could be host to new EU subsidiaries of at least two top global marine insurers next year Photo: IMDO

#Shipping - Britain’s potential loss of access to the EU single market has already seen two of the world’s top shipping insurers choose Ireland as a new base of operations, as The Irish Times reports.

Standard Club and North P&I Club are two of the specialist ‘protection and indemnity clubs’ that announced in the last week their intention to set up EU subsidiaries in Dublin during 2018.

The move is a contingency plan amid continued uncertainty over the exit from the European Union of the UK, which is the market leader in the global marine insurance industry.

Ireland is among a number of locations such as Cyprus and Luxembourg being considered by London-based insurers seeking to preserve their access to a market that accounts for a sizeable percentage of their business.

The Irish Times has much more on the story HERE.

Published in Ports & Shipping
MacDara Conroy

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MacDara Conroy

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MacDara Conroy is a contributor covering all things on the water, from boating and wildlife to science and business

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