Lloyd’s to open EU insurance company in Brussels
Lloyd’s, the specialist insurance and reinsurance market, has announced it will be setting up a new European insurance company, to be located in Brussels.
Lloyd’s chief executive and CII deputy president Inga Beale, Inga Beale, said the intention is for the company to be ready to write business for the 1 January 2019 renewal season, subject to regulatory approval.
The company will be able to write risks from all 27 European Union (EU) and three European Economic Area states after the UK has left the EU, providing its customers and partners with continued access to the innovative solutions of the Lloyd’s market.
Lloyd’s chief executive Inga Beale said: “It is important that we are able to provide the market and customers with an effective solution that means business can carry on without interruption when the UK leaves the EU.
“Brussels met the critical elements of providing a robust regulatory framework in a central European location, and will enable Lloyd’s to continue to provide specialist underwriting expertise to our customers. I am excited about the opportunities this venture will offer the market by providing that important European access efficiently.”
More than 500 personal finance professionals have signed up to the CII’s pension transfers qualification in the first week of its launch, following the Financial Conduct Authority’s proposals to tighten the advice requirements for the transfer of safeguarded benefits
The respondent was a former member of the CII who on re-application for membership failed to disclose a previous disciplinary decision to the CII
Leeds-based commercial insurance broker and risk manager, Gauntlet Group, has been awarded Chartered insurance broker status by the CII.