MECO & Brexit
The UK left the European Union at midnight on 31 December 2020.
Companies based in Member States of the European Union have freedom to provide goods and services but from 1 January 2021 the UK and EU states needed to develop a new relationship across a multitude of areas, including Insurance.
MECO are based in the UK and companies based outside of the EU need a mechanism for access to the EU markets in order to transact business.
We have established a partnership with JMM Insurance (Ireland) Limited, (JMMI). JMMI are similar to MECO as they are an established Underwriting Manager, that to date specialised in commercial liability insurances and other non-marine Insurance products.
JMMI are authorised and regulated by the Central Bank of Ireland, in the same way that MECO in London are regulated by the Financial Conduct Authority.
Some MECO Staff Members have been seconded to JMMI to provide EU based clients with continuity of service and JMMI will be responsible for the EU based business of Carina, Transmarine and The Charterers P&I Club.