Flagstone proposes redomestication to Luxembourg
Flagstone Reinsurance’s Board of Directors is recommending to the shareholders a plan to change the company’s place of incorporation from Bermuda to Luxembourg.
If approved by shareholders, and subject to certain regulatory approvals, Flagstone expects the redomestication to take place over several months. Flagstone’s CEO David Brown said that Luxembourg is a major financial center known for its stability as well as its financial sophistication, and the company believes this move will increase its strategic and capital flexibility while maintaining its operating model and our long-term strategy.
Flagstone has operated in Luxembourg for most of its corporate history and is familiar with its regulatory and legal environment. Flagstone’s existing office in Luxembourg will also become its corporate holding company office.
If the move is approved, the company’s reinsurance and insurance operations worldwide will continue to operate without material changes, and its principal operating center will remain in Switzerland. Flagstone will continue to maintain underwriting and executive offices in Bermuda.
