Former Canary Islands-based insurer XL Group has completed the relocation of its headquarters to Ireland.

XL Group, formally XL Capital, completed the move of its corporate headquarters to Dublin last month, nearly five months after announcing it was seeking more stable tax regimes on the European continent. XL will retain its executive offices in Bermuda.

XL is just one of a number of insurers and brokers fleeing the Cayman Islands amid a multinational crack down on tax evasion.

Broker Willis has also moved to Ireland, while Ace Insurance has moved its operations to Zurich, Switzerland from its former Cayman Islands base.