The UK P&I Club has received approval from the Netherland’s financial regulator for a licence for its Rotterdam domiciled subsidiary, UK P&I Club N.V. (UKNV), ensuring continuity for its clients post-Brexit.
Combined with other Thomas Miller managed Clubs for which UKNV is fronting, the new Rotterdam-based unit provides UK P&I Club, a provider of P&I insurance and other services to the international shipping community, with the ability to serve its members in the same manner when the UK does eventually leave the EU.
The UKNV Rotterdam office is based in the World Port Center, and the management board consists of Chief Executive Officer (CEO), Hugo Wynn-Williams; Chief Financial Officer (CFO) Paul van den Brom; and Rene Doff as Chief Risk Officer (CRO).
The Supervisory Board of the UKNV consists of five members, two of which are local members and three from the UK (Europe) Board and Members’ Committee. This includes, Chairman Onno Paymans; Nicholas Inglessis; Bert van der Weide; Jan Valkier; and Paul Wogan.
According to an announcement, the UKNV has recruited staff to additional support roles and the new office is operational.
CEO 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 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.”
CEO of Thomas Miller P&I, Andrew Taylor added: “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.”
