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THE REPUBLIC’S favourable corporate tax rate was not the determining factor in the decision of Aviva, the world’s fifth largest insurance group, to consolidate its euro-zone operations in Dublin, according to group chief executive of Hibernian Aviva, Stuart Purdy.

“Tax is a factor, but it is not the decisive factor,” he said. “Aviva has a long heritage in Ireland and as the Irish regulator has a lot of experience in a sophisticated multi-national insurance regulatory environment, this gives Aviva a lot to leverage from.”