Belfast Telegraph

AIG puts the feelers out over possible Dublin switch

By John Mulligan

American insurance giant AIG has asked the Irish Government how it would view an application to move the company's European headquarters from London to Dublin, as the company eyes a post-Brexit shift.

AIG's chief financial officer Sid Sankaran, chief executive of its consumer division Kevin Hogan, and Declan O'Rourke, head of AIG's operations in Ireland, held a meeting last month with the Republic's Finance Minister Michael Noonan.

Mr Sankaran and Mr Hogan are both board members of AIG.

While the meeting with Mr Noonan largely revolved around emerging political issues in the US and Europe, the AIG executives also broached the possibility of AIG moving its European HQ to Dublin, and queried how such a move might be met by Government.

It's almost certain that Mr Noonan was open to the idea, and it's thought he expressed his view that AIG was well-regarded in the industry and by regulators.

Anthony Baldwin, the chief executive of AIG's European and UK arms, has previously said that Dublin is among the cities being considered if AIG moves its London-based European HQ.

AIG employs about 2,500 people in Britain. "At a certain point in time you've got to pull the trigger, absent of any clarity on where negotiations are going in the transition period," Mr Baldwin told an Association of British Insurers conference in November.

AIG moved its European HQ from Paris to London about five years ago.

Belfast Telegraph