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Aspen will continue to serve its clients and business partners in the European Economic Area (‘EEA’) following the United Kingdom’s exit from the European Union in March 2019. In order to achieve this, the following measures are being taken:

  • Aspen will utilize the Lloyd’s Belgium Subsidiary through Aspen Managing Agency Limited (“AMAL”). The Lloyd's Brussels Subsidiary is authorised and regulated by the National Bank of Belgium and regulated by the Financial Services and Markets Authority. The Lloyd’s Brussels Subsidiary will write all non-life risks from EEA countries from 1 January 2019. Aspen is working closely with Lloyd’s to ensure a smooth transition of applicable policies to Lloyd’s Brussels Subsidiary. Find out more information.
  • Should the UK leave the European Union on 29 March 2019 without political agreement on transitional arrangements or a future state, Aspen will have in place appropriate contingency arrangements to allow it to continue to serve its clients and business partners. Lloyd’s has confirmed that it expects all Lloyd’s underwriters, including Aspen, to continue to pay valid claims after Brexit irrespective of whether the UK and EU agree on a transition period, and that the FCA are supportive of this approach. Read the press release.
  • In May 2018, Aspen submitted an application to the Central Bank of Ireland for authorization of a new insurance subsidiary in Dublin, Republic of Ireland. Subject to regulatory approval, it is anticipated that Aspen Ireland will be operational during the first half of 2019. Read the full announcement.
  • Existing UK and non-EEA policies not impacted by Brexit will continue to be written within Aspen Insurance UK Limited (“AIUK”) and Aspen Managing Agency Limited (“AMAL”).
  • We do not believe that our reinsurance business will be affected by Brexit, but this is subject to political agreements regarding Solvency II equivalence.

We will update this page as our implementation plan progresses.