United America Indemnity has planed to re-locate from the Cayman Islands to Ireland, to become a wholly-owned subsidiary of Global Indemnity, an Irish company.

According to United America, the Ireland offers an efficient business environment, an educated and professional workforce, a legal system grounded in common law, a regulatory environment and a global network of international treaties.

The company said that if the move to Ireland is approved by shareholders, it’s class A common shares will be exchanged for Global Indemnity’s class A ordinary shares on a 2 for 1 basis. In addition to shareholder approval, the move to Ireland is subject to an order from Grand Court of the Cayman Islands sanctioning the transaction.