UK P&I Club confirms Solvency II restructure
The UK P&I Club, which is a member of the International Group of marine liability mutuals, has announced a restructure in advance of Solvency II that will establish its European subsidiary as the sole provider of direct insurance to UK Club members.
The reorganisation, which takes effect from February next year, will reduce the number of separately regulated entities from two to one as well as strengthen governance, shrink compliance costs and better manage the club's solvency capital requirements, the...
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