"Beazley’s new corporate structure, which has no affect on the placement by Lloyd’s brokers of business with Beazley’s Lloyd’s syndicates in London, provides a favourable operating base from which to develop the business and bring the group’s corporate tax rate down in line with its global peer group, in a stable tax environment," said a spokesperson for the company.
“Having reviewed our options, we concluded that this move was in the best interests of our shareholders,” said the company in a press release. “Ireland gives us a strong regulatory environment, has the benefit of being part of the EU, and has a competitive tax regime.”