Another British insurer is making Brexit plans. London P&I Club has revealed to Reuters it is establishing a subsidiary in Cyprus to ensure continued access to trade in the European Union in case Britain loses single market access.
Five other British P&I clubs have created European hubs in Holland, Ireland and Luxembourg in recent months with Brexit looming.
For Cyprus, the decision by London P&I Club is a big vote of confidence as the island has recently upped its maritime hub marketing and now has a shipping cabinet position within government.
