Brexit prompts AXA to move international risk and reinsurance jobs to Ireland

French insurer AXA plans to move its international risk and reinsurance operations from the UK to Ireland in preparation for Brexit, according to a Jan. 10 Reuters report.

AXA chief executive Thomas Buberl reportedly said that AXA's newly-acquired XL division had already initiated the plans to move some of its workforce to Dublin from the UK.

AXA acquired Bermuda-based property/casualty commercial lines re/insurer XL Group for $15.3 billion (€12.4 billion) in cash, earlier in March 2018.

According to the report, the French insurer is also planning to move a handful of Paris-based jobs to Dublin. Its UK business will be managed by the staff in London, while the European large risks and reinsurance will be handled from Dublin.

Earlier in October, AXA XL announced that it has received authorisation from the Central Bank of Ireland (CBI) to move its principal EU insurance company, XL Insurance Company (XLICSE), from the UK to Dublin in response to Brexit uncertainty.

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