UnipolRe’s CEO Marc Guy Victor Sordoni has voiced his support for Dublin as a top financial destination for financial services companies as insurers, banks and asset managers consider their post-Brexit EU bases.
Speaking to Life Insurance International publication, Sordoni said it was understandable that some insurance groups and banks are reinforcing their branch business in Dublin given the high standard of education among the Irish workforce.
Sordoni said: “Dublin is a very international place and the logistical cost of [setting up an EU base] is truly competitive. There are also lots of connecting flights from London to Dublin as well as to most of other important European cities.”
His comments come after the Financial Times recently noted an EY report has revealed that Dublin is the top destination of the leading financial services companies that have already made statements on where they plan to set up their post-Brexit EU bases.
Banks, insurers, asset managers and funds are looking for new EU homes because they fear Brexit will mean the loss of the “passport” they use to do business across Europe from their London bases.
As a subsidiary of UnipolSai Assicurazioni, one of Europe’s largest non-life insurers, UnipolRe writes reinsurance coverage primarily for insurance companies based in Europe.
In addition to his role as UnipolRe’s CEO, Sordoni is also head of reinsurance for UnipolSai Assicurazioni, which involves supervising the reinsurance for the affiliated companies of Unipol Group in Italy.