Flagstone Reinsurance Holdings plans to change the place of incorporate from Bermuda to Luxembourg. The company expects the redomestication to take place over several months following shareholder approval.
Flagstone said that it has operated in Luxembourg for most of its corporate history and is familiar with its regulatory and legal environment. The company’s existing office in Luxembourg will also become its corporate holding company office.
The company said that the reinsurance and insurance operations will continue to operate without material changes, and its principal operating center will remain in Switzerland. It will continue to maintain underwriting and executive offices in Bermuda.
David Brown, CEO of Flagstone, said: “After careful consideration of this decision, our Board of Directors and management team believe that changing Flagstone’s place of incorporation to Luxembourg is in the best interests of the company and its shareholders.
“This change will have no impact on our operations and in particular Flagstone will retain its substantial offices and operations in Bermuda, where we have conducted business since our founding.”