Travelers Europe announced it has been granted a licence by the Central Bank of Ireland for a new, wholly owned insurance subsidiary incorporated in the Republic of Ireland. Based in Dublin, Travelers Insurance Designated Activity Company (“Travelers Insurance DAC”) will provide uninterrupted service to the company’s customers and broking partners in Ireland and across Europe when the UK exits the European Union. Travelers Europe has been present in the Irish general insurance market for more than 20 years and will utilise its existing branch resources for its subsidiary, which will be led by CEO James Liston. Travelers’ significant UK-based operations, comprising its general insurance business (Travelers Insurance Company Limited) and its Lloyd’s syndicate, will continue to operate under existing UK licences. Where necessary, business will be transferred from Travelers Insurance Company Limited to Travelers Insurance DAC in accordance with current requirements to assure a seamless transition for customers and brokers. Travelers Insurance DAC is expected to commence writing business at the end of March 2019.