Brexit has tested the ability of the various European financial
services centres outside of London to attract new investment from
global insurers. Ireland has been on the short list of many UK
insurers seeking to establish a subsidiary in an EU Member State in
advance of Brexit. As a firm, we have been fortunate to be involved
in a significant number of these projects. While Ireland will
undoubtedly win its fair share of investment from global insurers,
a number of potential investors who had considered Ireland have
decided to establish a new insurer elsewhere.
Although it was always likely that insurers would decide to
establish subsidiaries in different EU member states, it seems to
us that despite the gains Ireland will make, Brexit represents
something of a missed opportunity for the local insurance market.
This was a once in a lifetime opportunity to substantially grow the
industry and to create a hub that would have been the natural home
for global insurers in
