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UK ship insurer Britannia to set up EU subsidiary in Luxembourg due to Brexit

Reuters - UK Focus

LONDON, Dec (Shanghai: 600875.SS - news) 1 (Reuters) - Specialist British ship insurer Britannia plans to set up a subsidiary in Luxembourg in the wake of Britain's decision to leave the European Union, it said on Friday.

"With (Other OTC: WWTH - news) the advice of third-party consultants and having engaged with various EU regulators, Britannia's board has now instructed the managers, Tindall Riley (Britannia) Ltd, to focus on Luxembourg as the preferred option," it said in a statement. (Reporting by Jonathan Saul; Editing by Susan Fenton)