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Lloyd's managing agent eyes Dublin base if Britain loses EU market access

Neon Underwriting Ltd., a managing agent at Lloyd's of London, plans to launch a platform in Dublin if Britain loses access to the EU market, CEO Martin Reith told Reuters.

Lloyd's itself was reported Dec. 15 to be considering establishing an EU-based subsidiary in preparation for Brexit. Reith said Neon's own plans would give it flexibility if the Lloyd's move does not work out or if it feels that it would be better served pursuing its own plan.

Neon, which has 20% of its premium market share in Europe, is a member of Great American Insurance Group, whose members, including Great American Insurance Co., are subsidiaries of American Financial Group Inc.

Neon manages Lloyd's Syndicate 2468.