XL Group Ltd has announced its plans to move its principal European Union insurance company, XL Insurance Company SE, from the U.K. to Ireland in 2018 in response to Brexit, subject to certain regulatory approvals.

Not new to Dublin

XL Group has had insurance operations in Dublin since 1990, when it opened its first European insurance company in the then brand new International Financial Services Centre. Today, XL Group has insurance and reinsurance operations as well as corporate functions based in its office at No. 8 St. Stephen’s Green, Dublin.

Dublin was also the domicile for XL Group’s parent company between 2010 and 2016 before its new holding company, XL Group Ltd, was formed in Bermuda following XL Group’s acquisition of Bermuda based Catlin Group Limited.

Continuity of service

Redomesticating XL Insurance Company SE to Ireland will allow XL Group’s clients and brokers to benefit from continuity of service through its branch network in Europe, which enables it to write business in domestic markets as well as providing the infrastructure for its Global Programs business.

“Since the referendum announcement we have been clear that our top priority is to provide certainty and consistency of service to our clients and brokers. Moving XL Insurance Company SE to Ireland means we deliver on that commitment,” CEO Mike McGavick said in a statement.