A week after global broker Willis announced plans to shift its corporate HQ to Ireland, new figures show the country’s international re/insurance industry is going from strength to strength.

Gross written premium rose 19% to a record €26.2 billion ($43.4 billion) last year, according to data from the Dublin International Insurance & Management Association (DIMA).

“We continue to see new companies set up operations in Dublin, and the majority of companies already established here expect to see growth in their business over the course of this year,” DIMA CEO Sarah Goddard said in a statement.

The Willis move from Bermuda is understood to be motivated by Ireland’s attractive international tax regime, which has drawn criticism from other European Union states.