The decision to relocate staff was taken much ahead of AXA’s acquisition of XL.The number of people who will be relocating have not been disclosed.
Aimed at mitigating risks from Britain potential departure from the European Union, French insurer AXA is all set to relocate staff from its UK and France offices to Ireland.
According to Thomas Buberl, its CEO, AXA’s recently-acquired XL division had already initiated the plans to relocate staff to Ireland, even before it was acquired by AXA.
“Since the former hub is in France, we will have to take some staff from France as Irish regulators will ask functions to be handled there,” said Buberl, who did not specify how many staff would be moving over to Ireland.
With Brexit threatening London’s standing as a global financial hub, other European cities, including France, Frankfurt and Dublin are vying to attract financial jobs as March 29, 2019 – the day Britain is officially set to divorce the EU inches closer.