Ship Insurance: Dublin to Become Hub for 40% of Business After Brexit
Ship insurer Standard Club based in the UK, estimates that about 40% of its business will be written through its new Dublin unit, which has been set up to allow the business to continue to service customers in the European Economic Area (EEA) in the wake of Brexit, according to its chief executive.
The Standard Club’s chief executive, Jeremy Grose, has told The Irish Times that the insurer currently generates about $290 million (€257.3 million) of premiums annually.
“Dublin was a natural choice for the Standard Club, particularly [given] the shared professional values, shared language and convenience from the UK, mainland Europe and east-coast USA,” Mr Grose said. “On top of that, there is an established insurance market in Dublin with a strong pool of talent to recruit from.”