#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.