Travelers gains approval for Brexit subsidiary in Dublin; names CEO

Property/casualty insurer Travelers Europe has set up a  new subsidiary in the Republic of Ireland in response to Brexit, which will be led by James Liston as CEO.

The insurer said that it has received all approval from the Central Bank of Ireland and the new subsidiary is expected to commence writing business at the end of March 2019.

Based in Dublin, Travelers Insurance DAC will enable the company to continue to serve its customers and broking partners in Ireland and across Europe when the UK exits the European Union, as is currently planned on March 29, 2019.

Travelers said its significant UK-based operations, comprising its general insurance business and its Lloyd’s syndicate, will continue to operate under the existing UK licences.

“During the Brexit negotiations, our priority has been to ensure that we are positioned to continue meeting the needs of our policyholders who have assets and business across Europe,” said Matthew Wilson, CEO of Travelers Europe. “The authorisation of our subsidiary means it will be business as usual for our customers and brokers, and we will continue to deliver the expertise they have come to expect from Travelers.”