French insurer AXA will move staff over to Ireland from France and the United Kingdom, in light of Britain's plans to leave the European Union.

Chief Executive Thomas Buberl told reporters on Thursday that AXA's recently-acquired XL division had already initiated the plans to move staff to Ireland, before its eventual takeover by AXA.

"Since the former hub is in France, we will have to take some staff from France as Irish regulators will ask functions to be handled there," said Buberl, who did not specify how many staff would be moving over to Ireland.

Dublin has been vying with Frankfurt and other major European Union cities to attract financial jobs away from London ahead of Britain's planned departure from the EU in March 2019. (Reuters)

Source: www.businessworld.ie