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ScotEq Intl adds base in Dublin

Scottish Equitable International is setting up a Dublin-based offshore

company to operate alongside its existing Luxemburg operation.

The first product to be issued from Dublin is likely to be a with-profits

bond, details of which will be announced later this year.

ScotEq International actuarial director Stephen Bishop has been appointed

general manager of the Dublin operation. The office will initially employ

around 10 staff, including financial managers and customer services staff.

The Luxemburg base will remain the headquarters and policy administration

centre for the company. Sales and marketing for the UK market will continue

to be run from ScotEq&#39s Edinburgh office.

ScotEq International believes adding a second base within a European

offshore jurisdiction will improve its ability to become a top-three player

in the offshore investment market. It says Luxemburg offers important

advantages of investor protection and confidentiality but Dublin offers a

flexible base from which the group can extend its product range.

Managing director David Healy says: “Luxemburg has provided an ideal base

for us to establish the company and develop a comprehensive singlepremium

product range. However, the UK offshore investment market is growing and

product structures are evolving rapidly.

“We believe a base in Dublin will enable us to develop products to

complement our existing range and provide a springboard for us to achieve

future growth in the UK.”

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