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XL attracted by Ireland’s stability: McGavick
13 January 2010
Michael McGavick, chief executive officer of XL, wants to move his firm’s holding company to Ireland because of the stability the country offers, he has told Reactions.
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[michael mcgavick]
[xl]
[xl capital]
[ireland]
Michael McGavick, chief executive officer of XL, wants to move his firm’s holding company to Ireland because of the stability the country offers, he has told Reactions.
However, XL’s share price has fallen since the firm announced it wants to move its holding company from the Cayman Islands, and JP Morgan analysts warning that the move could mean the company’s shares are removed from US stock market indexes.
McGavick told Reactions: "It is a judgment of the relative risks in the Caymans compared to the stability that Ireland has to offer."
McGavick declined to comment further on the risks in the Cayman Islands....
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