Beazley to establish European subsidiary in Ireland

Andrew Horton, CEO of U.K.-based insurance underwriter Beazley P.L.C., said that the company plans to establish a European subsidiary in Dublin, Ireland, following the Brexit vote, The Irish Times reported citing Reuters. 

"We're expecting to add jobs in Dublin because it will need more people to manage a live insurer than a reinsurer," Mr. Horton said. 
The company sees "significant" growth opportunities in the United States and other markets outside London. 
Meanwhile, Beazley reported a 3% rise in pretax profit to nearly $300 million in 2016.

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