The Travelers Companies, Inc. is all set to move its European business from UK-based Travelers Insurance Company Limited to new subsidiary Travelers Insurance Designated Activity Company (DAC) in Ireland.
The High Court of England and Wales has granted approval for the transfer under Part VII of the Financial Services and Markets Act 2000, allowing the portfolios of all relevant in-force policies and historic liabilities written out of the Irish, French, German, and Netherlands branches to be shifted to the Dublin unit.
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