Standard Life likely to pick Dublin after Brexit

Insurer and asset manager Standard Life is likely to choose Dublin as the base for its EU subsidiary after the UK leaves the bloc, its chairman said.

Standard Life already has an operation in Dublin and is unusual among British life insurers in having thousands of customers in the EU. Standard Life’s choice comes after high-profile insurers AIG and Lloyd’s of London picked Luxembourg and Brussels for their new bases.

Standard Life shareholders will vote next month on the firm’s £11bn (€12.8bn) merger with rival Scottish fund firm Aberdeen Asset Management. Dublin, which got approval from Wall Street investment banking giant JPMorgan, could also secure the EU offices of Morgan Stanley and Bank of America, the Irish Examiner has reported.