Zurich Insurance has indicated that it plans to move its European Economic Area holding company from Ireland to Germany.
110 jobs will be affected in the move, said Alison Martin, EMEA chief executive for the firm, in an interview given to Reuters. However, it has been reported that the company did not expect any reduction in permanent roles next year and that it plans to redeploy affected employees across the Zurich Insurance group.
Zurich Insurance Plc also covered British operations but that will change at the end of this year as temporary permissions regimes end, Martin said.
She told Reuters: “As a group, we are always looking for opportunities to simplify With Brexit happening, and with the UK leaving this structure, … Germany will then become by far the largest business that we have within Zurich Insurance Plc.”
Zurich sad that its domestic Irish insurance business will not be affected. It has also been reported that the holding operation for the British business will become a branch of the firm’s Swiss operations, following a bilateral treaty between the UK and Switzerland.
