Displaying items by tag: Marine InsurancePost Brexit

17th January 2017

Lloyd’s of London Actively Examine Dublin as Option for EU Base

Lloyds of London with its origins in marine insurance using a coffee house in 1688 is examining the Irish capital which remains on a shortlist as it finalises plan to deal with Brexit

#LloydsofDublin? - The option by Lloyd’s of London according to The Irish Times in setting up a subsidiary in Dublin is actively been examined, as it finalises its plan to deal with the move to Brexit.

The insurance market is due to bring a proposal to its members next month to establish a subsidiary in an EU country to safeguard its access to European markets and Dublin remains on the shortlist as the final decision approaches.

The arrival of Lloyd’s, the insurance market with a history stretching its origins in marine insurance back more than 300 years, would pose particular issues for the Central Bank. Lloyd’s members would have to agree to inject new capital into the venture, to create a fully-fledged subsidiary.

However the structure of Lloyd’s, with risk taken on by various syndicates of members, rather than the company, would require a different regulatory oversight to a normal insurance operation.

Lloyd’s was one of the first major city companies to say it would move part of its operations out of London in the wake of the Brexit vote. Its chairman, John Nelson, said that London’s status as a global insurance hub was at risk after the referendum vote. Lloyd’s quickly started looking for a base for an EU subsidiary and it was reported in December that five centres were on the shortlist. Malta is also thought to be on the list.

For more click here and an opinion piece on Afloat.ie of Dublin's Docklands as a relocation base for sectors of the London banking scene leading to potential spin-off of maritime based activity on the Liffey based mostly on moored craft.

On a related note to London's River Thames is where MBNA Thames Clippers (see newbuild orders) is operated by one of the UK's largest credit card issuers, MBNA.

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Forty Foot Swimming Spot on Dublin Bay

The 'Forty Foot' is a rocky outcrop located at the southern tip of Dublin Bay at Sandycove, County Dublin from which people have been swimming in the Irish Sea all year round for 300 years or more. It is popular because it is one of few spots between Dublin city and Greystones in County Wicklow that allows for swimming at all stages of the tide, subject to the sea state.

Forty Foot History

Traditionally, the bathing spot was exclusively a men's bathing spot and the gentlemen's swimming club was established to help conserve the area.

Owing to its relative isolation and gender-specific nature it became a popular spot for nudists, but in the 1970s, during the women's liberation movement, a group of female equal-rights activists plunged into the waters and now it is also open to everyone and it is in the control of Dun Laoghaire Rathdown County Council.

Many people believe that swimming in extremely cold water is healthy and good for the immune system.

Is it safe to swim at the Forty Foot?

The Forty-Foot is a great place to swim because there is always enough water to get a dip but like all sea swimming, there are always hazards you need to be aware of. For example, a lot of people like to dive into to the pool at the Forty-foot but there are submerged rocks that can be hazardous especially at low water. The Council have erected signs to warn people of the underwater dangers. Other hazards include slippy granite cut stone steps that can often be covered with seaweed and of course marine wildlife including jellyfish that make their presence felt in the summer months as do an inquisitive nearby Sandycove seal colony.