Belfast Telegraph

Talks to lure back insurers

The Treasury is hoping to tempt Lloyd's of London insurers back to the UK in a move that would boost the nation's tax coffers.

Officials want to lure companies such as Beazley, Brit, Catlin and Hiscox, who have re-domiciled to locations including Bermuda, Ireland and even The Netherlands in recent years.

Discussions have been held with some of these companies as part of a wider review into the market announced by Greg Clark, financial secretary to the Treasury, earlier this year.

At the time, he said he would be speaking to a "wide range of firms across the sector". The talks are understood to have included what it would take to make the UK a more attractive tax residency for insurers.

A Treasury spokeswoman would not confirm the nature of the talks but added: "The Government is committed to making the UK as competitive a business environment as possible."

Belfast Telegraph

Popular