EEA Risks After Brexit

Immediately after the Brexit referendum, we started making plans to ensure that, however Brexit was delivered, we’d be able to look after our clients and their brokers with EEA risks with as little disruption as possible.

In May last year we announced that we would seek to establish a new insurance company in Germany, Markel Insurance SE, able to handle EEA risks previously written on our London insurance company, Markel International Insurance Company and our Lloyd’s Syndicate 3000.

MISE is now capitalised, licensed, has A ratings from S&P and A.M. Best – the same as MIICL- and has written its first risks. We’ll also, of course, be able to write on LBS, the Lloyd’s Brussels platform but, for reasons of simplicity for our customers and their brokers, MISE will be the vehicle we will recommend for carrying EEA risks.

As part of Markel International’s Brexit restructuring plans, we are now in the process of arranging a transfer of MIICL’s European business to MISE, so that the Markel International group can continue to service this business post-Brexit. You can see more details here

Even if there turns out to be no transitional arrangements, our plans are to be ready to look after our clients faultlessly post Brexit and as soon as March 29, 2019.

The links below will take you to much of the information you’ll want from us and this will be updated as more becomes available.

Do, please, get in touch with us at brexit@markelintl.com if there are any other questions you have.

 

Why MISE  Markel BaFin application release
A.M. Best rating Markel BaFin licence release
S&P rating Markel A.M. Best release
BaFin Database entry for German headquarters  Markel S&P release
FCA  Registry entry for MISE  
CBI registry for Irish branch of MISE   
DNB registry for Dutch branch   
MISE Munich Registry excerpt  
Open market transition clause  
Binder transition clause  
Binder sunset clause  
MISE FATCA  
MISE approval press release  
FAQs for Brokers and Policyholders