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UK-based re/insurers are weighing up their options in terms of where they domicile to carry on writing onshore European business. But where should they locate themselves? Intelligent Insurer investigates.
On September 19, global reinsurer XL Group revealed plans to move its principal EU insurance company, XL Insurance Company SE (XLICSE) from the UK to Dublin in 2018 in response to Brexit.
The CEO Mike McGavick said that since the referendum announcement XL Group has made it clear that its top priority is to provide certainty and consistency of service to its clients and brokers, and that the move meant it could deliver on this commitment.
Over the past few months, a number of reinsurers have set up a post-Brexit contingency plan to ensure they can continue to write onshore EU business.
AM Best, XL Group, AIG Europe, Chaucer, IDA Ireland, Admiral Group, Beazley, Brexit, Inga Beale, Mike McGavick, Martin Shanahan, Nick Metcalf, Europe, UK