AXA XL is now Brexit-ready.
The firm has announced the successful transfer of its European Union subsidiary XL Insurance Company SE (XLICSE) from Britain to the Irish capital.
Operating through an international network of branches, subsidiaries, and third-party partners, XLICSE provides insurance within Europe and Asia.
“The completion of the transfer ensures that XLICSE can continue to work with clients and brokers to offer solutions for business that would otherwise potentially be disrupted by the UK leaving the EU,” noted Greg Hendrick, CEO for AXA XL.
Hendrick described the completed move as “a culmination of the extraordinary efforts” of his colleagues as well as the diligence and expertise of Central Bank of Ireland officials.
Meanwhile AXA XL will retain not only its UK-regulated unit XL Catlin Insurance Company UK Limited but also its Lloyd’s of London operations.