XL Re to centralise operations in Dublin

XL Re, the Bermuda-based reinsurance firm, has decided to centralise its European operations in Dublin.

“Dublin was the obvious choice as Ireland is the first country to bring in the EU reinsurance directive,” said XL Re Europe’s chief executive David Watson.

The directive is aimed at giving EU-based reinsurers a passport to do business throughout the continent. XL Re’s new Dublin office will employ 25 people when fully operational.