Friday, March 29, 2024
HomeEconomyZurich Insurance is moving its holding company out of Ireland due to...

Zurich Insurance is moving its holding company out of Ireland due to Brexit

Published on

spot_img

The decision to transfer the company, Zurich Insurance plc, will affect 110 jobs, Zurich EMEA CEO Alison Martin told Reuters by phone.

Zurich Insurance plc also covers UK operations, but Martin said that would change when the furlough schemes end later this year.

“As a group, we’re always looking for opportunities to simplify,” she said.

“With Brexit happening and the UK leaving this structure, Germany will become the largest business within Zurich Insurance plc.”

It has not been decided whether Zurich Insurance plc will move to insurance offices in Frankfurt or Cologne, and the move will not happen before 2024, Martin said.

They added that the Irish domestic insurance business in Zurich, which employs 1,100 people, will not be affected.

Martin told staff working in Dublin for Zurich Insurance plc that they would consider a move with the holding company, within the wider business or redundancy.

Under a bilateral agreement between Britain and Switzerland, the UK business holding company will become a branch of Zurich’s Swiss business, she said.

See also  Ryanair has again broken the historical record in the number of passengers and threatened Belgium

Latest articles

Top 7 Casino Etiquette Rules Rabona Casino Members Must Follow

Probably many newbies will be surprised, but in a casino, like in a theater...

Innovation in tennis brings opportunities and challenges

The sport of tennis has changed drastically over the last few decades, with the...

5 Ways To Bet Responsibly in Ireland

From the thrill of soaring through the sky while skydiving to the adrenaline rush...

Ireland Must Appoint Carsley Despite Given’s Comments

Stephen Kenny's reign as Ireland manager came to an abrupt end after they failed...

More like this

Top 7 Casino Etiquette Rules Rabona Casino Members Must Follow

Probably many newbies will be surprised, but in a casino, like in a theater...

Innovation in tennis brings opportunities and challenges

The sport of tennis has changed drastically over the last few decades, with the...

5 Ways To Bet Responsibly in Ireland

From the thrill of soaring through the sky while skydiving to the adrenaline rush...