Looking to Dublin

Ireland’s speedy adoption of the EU Reinsurance Directive has attracted a second major Bermudian reinsurer, PartnerRe, to follow the example of XL Re and base its European subsidiary in Dublin. However, it remains to be seen whether this development points to Dublin becoming a genuine reinsurance centre or merely a fiscally attractive location for capital

The EU Reinsurance Directive allows reinsurers authorised in one member state to transact business anywhere in the European Economic Area which includes Iceland, Norway and Switzerland as well as the EU. It became law in Ireland in July 2006.