The UK P&I Club, a provider of protection and indemnity (“P&I”) insurance and other services to the international shipping community, has won approval from the Netherland's financial regulator for a license for its Rotterdam-based subsidiary, UK P&I Club N.V. (“UKNV”).
In a statement, the company said that its new subsidiary will ensure the UK P&I 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:
- Hugo Wynn-Williams as chief executive officer;
- Paul van den Brom as chief financial officer; and
- Rene Doff as chief risk officer.
The UKNV's supervisory board consists of:
- Onno Paymans, as chairman;
- Nicholas Inglessis;
- Bert van der Weide;
- Jan Valkier; and
- Paul Wogan.
UKNV added that it has recruited staff to additional support roles and that the office is operational.
Mr. Wynn-Williams said, “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 U.K. 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, stated, “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 authorizations 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.”
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].