McDonald's switches global insurance operations to Bermuda

U.S.-based fast-food chain McDonald's Corp. is winding down its insurance unit Golden Arches Insurance Ltd., which has managed McDonald’s global insurance for almost 30 years, The Irish Independent reported. The insurance business, which was managed by Aon PLC, has been moved to Bermuda, with Zurich Insurance Group Ltd. underwriting McDonald’s property and general liability policies and McDonald’s Bermudian insurance company reinsuring the risks.