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Brexit drives Travelers to Dublin

Written by Adam Cadle
23/09/2019

US multinational, Travelers Insurance Company, has received approval to transfer its European business to Dublin.

Portfolios of all relevant in-force policies and historic liabilities written out of the firm’s Irish, French, German and Netherlands branches will be transferred to its newly established insurance subsidiary, Travelers Insurance Designated Activity Company (Travelers Insurance DAC).

“Receiving court approval for our Part VII transfer is another milestone in our plan to ensure we will maintain high levels of service for our customers and brokers following the UK’s expected departure from the European Union,” Travelers Europe CEO Matthew Wilson stated.

“We are delighted to be able to provide certainty to our policyholders, no matter which part of our business they work with.”

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