Property and casualty (Lloyd’s) insurer Lancashire Holdings will migrate its European business to P&C of London’s European marketplace in Brussels after Brexit, according to CEO Alex Maloney. P&C plans to launch a Brussels hub so it can continue serving European Economic Area customers after the UK’s exit from the EU. The Lloyd’s insurer also said that if circumstances changed, it would open an office in Europe to continue business. As yet, Lancashire has not seen material costs arising from Brexit, Maloney added. Rival Beazley recently said Brexit should not pose any “insurmountable challenges”.
Property and casualty (P&C) insurer Lancashire Holdings will migrate its European business to Lloyd’s of London’s European marketplace in Brussels after Brexit, according to CEO Alex Maloney. Lloyd’s plans to launch a Brussels hub so it can continue serving European Economic Area customers after the UK’s exit from the EU. The P&C insurer also said that if circumstances changed, it would open an office in Europe to continue business. As yet, Lancashire has not seen material costs arising from Brexit, Maloney added. Rival Beazley recently said Brexit should not pose any “insurmountable challenges”.