British insurer Equitable Life considering setting subsidiary in Dublin
British insurer Equitable Life is considering setting up a European Union subsidiary in Dublin so that it can serve Irish and German customers after Britain leaves the bloc, its chief executive said on Friday.
Equitable Life manages life and pensions policies that are closed to new customers. It has close to 400,000 policyholders in Britain and smaller numbers here and in Germany, CEO Chris Wiscarson told Reuters.
"We are having to make sure we have plans in place to deal with whatever comes out of the next couple of years," he said.
Equitable Life would "probably" set up a regulated subsidiary in Dublin to retain passporting rights to manage policies for customers in Germany, but no decision had been made yet, he said.
Equitable Life has around 200 staff in total, and a Dublin unit will employ a small number of staff