Shepherd Compello, an independent Lloyd’s of London insurance broker and coverholder, has set up a Brexit subsidiary in Netherlands to ensure hassle-free access of European markets post-Brexit.

The new company, Shepherd Compello BV, has secured a licence from the Netherlands Autoriteit Financiële Markten (Authority for the Financial Markets) in January to trade as an insurance agency.

After that, the new entity located in Assen received passport permissions that enables it service clients across Continental Europe from 15 March this year.

Formation of the new Dutch subsidiary enables the existing European clients of Shepherd Compello and EPG Administration Services to be handled by a fully authorised insurance agency, regardless of the outcome of the Brexit.

Shepherd Compello CEO John Shepherd said: “Opening the Assen office is an important milestone in our growth strategy.

“This enhances our global footprint and enables Shepherd Compello to focus on the identification and development of European opportunities regardless of what happens with Brexit.”

Shepherd Compello offers insurance protections for motorsport, physical damage, financial lines, sports, specialty and cyber, marine, transportation and property, among others.

Recently, British specialty insurer Newline Group created a new European subsidiary in Cologne, Germany ahead of Brexit.