McDonald’s Shifts Global Insurance To Bermuda
McDonald’s has “shifted a global insurance operation from Dublin to Bermuda and is still winding down its Irish vehicle, newly-filed accounts for the business reveal.”
The Independent.ie website said, “McDonald’s has shifted a global insurance operation from Dublin to Bermuda and is still winding down its Irish vehicle, newly-filed accounts for the business reveal.
“The Irish unit, managed by Aon in Ireland, has managed McDonald’s global insurance unit for almost 30 years.
“Once the Irish business has been run-off, it will hand back its licence to the Central Bank of Ireland.
“In 2021, the Irish insurance division paid out gross claims of $16.7m [€17m] for the fast-food giant, newly-filed accounts for the business show.
“McDonald’s began a domicile review during 2019 to agree the structure that would best suit their future international insurance requirements,” the accounts for the business note.
“It was subsequently confirmed that from July 1, 2020, McDonald’s property and general liability policies would be issued by Zurich and reinsured to McDonald’s insurance company in Bermuda.”
You can read the full story here on Independent.
