It is now clear, following the election last week, that it is the intention of the UK government for both the UK and Gibraltar to exit the EU on 31st January 2020. As a consequence, insurance intermediaries will need a base in the EU to handle the insurance requirement of clients based there, such as corporate and personal risks. Sovereign Insurance Services is established in Gibraltar and Malta to ensure coverage is possible throughout Gibraltar, the UK and the EU. In response to the general election result, Neil Entwistle, Managing Director of Sovereign Insurance Services stated:
“We are in a strong position to help private clients and businesses who may find their existing insurance arrangements compromised or made complicated by the forthcoming Brexit. The result of last week’s UK election will no doubt create a degree of uncertainty, particularly to those based in the EU and those who have operations there. Our subsidiary in Malta was established to ensure we are able to continue servicing our existing clients in the EU, irrespective of the outcome of Brexit and also to develop business opportunities across the whole of Europe. We are available to help existing and new clients who may need guidance and clarity with their insurance requirements during the transitional period which lies ahead.”
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