Insurance syndicate XL Group one of several companies choosing Irish capital to guarantee access to EU single marketOne of Lloyd’s of London’s largest insurance syndicates is to move its European headquarters to Dublin because of Brexit, Ireland’s prime minister has announced. XL Group, which operates the XL Catlin brand, chose the Irish capital as its preferred location for its principal EU insurance company subject to regulatory approval, said the Irish Industrial Development Authority. XL is the second Lloyd’s of London insurer to announce EU operations would be headquartered in Dublin after the July announcement that Beazley would convert its Dublin operation to a business transacting throughout the EU. It is thought that initially fewer than 100 XL posts will be created in Dublin, where the Bermuda-registered company has operated since 1990. XL got a large slice of the London market when in 2015 it bought Lloyd’s of London insurer Catlin Group for £2.8bn.

Source: The Guardian September 19, 2017 15:45 UTC