Axa XL to boost staff to 75 amid Brexit planning

Central Bank gave authorisation for XL to move to the Republic from the UK

The Axa insurance company building in Lisbon, Portugal.

The Axa insurance company building in Lisbon, Portugal.

 

French insurer Axa’s recently acquired XL business plans to boost its headcount in Dublin from 60 to 75 this year as it moves some activities based in London in preparation for Brexit.

Last October, the Central Bank of Ireland gave authorisation in principle for XL Insurance Company SE (XLICSE) to move to the Republic from the UK so that it can continue to work with clients across the European Union after Brexit.

XL opened its first European insurance company in the International Financial Services Centre (IFSC) in the 1990s, and in 2006 established XL Re Europe which remains an Irish-domiciled reinsurer.

A spokeswoman for Axa said that XL’s headcount in Dublin currently stands at 60 people and that it was expected to rise to 75 this year, “with further roles added as and when needed”.

“There are a handful of additional roles that may need to be created in Dublin following the merger of Axa Corporate Solutions into XLICSE, but this is subject to further discussion,” she said.