Brexit drives two more US insurers to Dublin

Travelers and Manulife Investment Managers announce moves to Dublin

By the end of June, 29 financial services companies had relocated staff or services from London to Dublin as a result of Brexit, EY said. Photograph: iStock

By the end of June, 29 financial services companies had relocated staff or services from London to Dublin as a result of Brexit, EY said. Photograph: iStock

Travelers Insurance Company, the US multinational with total assets of about $103 billion, will transfer its European business to Dublin in a move to protect its services following Brexit.

Having received approval from the British high court in addition to the Central Bank, Travelers said all policies and historic liabilities written out of its Irish, French, German and Dutch branches would be folded into a new Dublin-based entity, Travelers Insurance Dac, which received Central Bank approval in January.

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