Over the last few years, Standard Club has grown the underwriting and business development of the former Strike Club and changed its operational and cost structures to make them more efficient. SIE became part of the Standard Club group with effect from 1 February 2019 following approvals by members in general meetings. SIE ceased underwriting .
Over the last few years, Standard Club has grown the underwriting and business development of the former Strike Club and changed its operational and cost structures to make them more efficient. The Shipowners’ Mutual Strike Insurance Association Europe (‘SIE’) became part of the Standard Club group with effect from 1 February 2019 following approvals by .
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Brexit update – The Standard Club UK Limited
We refer to our circular to members on 24 January 2019.
As noted in that update, following the UK’s decision to exit the European Union, we established a new Standard Club subsidiary based in Dublin, The Standard Club Ireland DAC (Standard Ireland), which ensured that the club can continue to access European Economic Area (EEA) markets. From 20 February 2019 all renewing EEA members previously entered in The Standard Club UK Ltd (Standard UK) were underwritten by Standard Ireland.
Since our last update, a Withdrawal Agreement was entered into between the UK and the EU under which the UK left the EU on 31 January 2020 and a transition period came into operation until 31 December 2020. During this transition period, EU law has continued to apply in the UK under transitional measures and Standard UK has been able to benefit from such measures to continue to conduct business within EEA states; in particular, Standard UK has continued