Berkshire Hathaway’s insurance arm has secured approval to set up its post-Brexit European insurance hub in Dublin.

The unit is set to start underwriting later this month, now that it has been given the green light by Central Bank of Ireland. 

In a statement, the firm said the new platform would be used to write business in the European Economic Area.

Up until now, that business had been written by its London-based business, however it will need a foothold within the EU if the UK leaves the bloc.

A number of the Warren Buffett-owned firm’s brands will use the platform, including Berkshire Hathaway Specialty Insurance, MedPro and Lloyd’s syndicate, Faraday.

Berkshire said it had established the platform to ensure a “smooth transition” for its customers and brokers after Brexit.

In Dublin, Berkshire will join the likes of Axa XL, Travelers and Bermudian carrier Arch.

 

 

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