AXA XL, the property and casualty and specialty risk division of France-based AXA, said the Central Bank of Ireland approved its request to move XL Insurance Co. SE, its EU insurance company, to Ireland from the U.K. ahead of the U.K.'s departure from the EU, scheduled for March 29, 2019.

AXA XL said the move would help ensure that XL Insurance Co. can continue to serve clients and brokers in respect of business that might otherwise be disrupted because of Brexit, including its branch network in Europe. Because XL Insurance Co. is already a Societas Europaea, it can continue as the same legal entity on moving to Ireland.