Zurich to leave Britain for tax-lite Ireland

The insurer is in negotiations with the FSA over the move, which is expected to be confirmed within weeks, the Sunday Times reports. Zurich would join a growing list of firms quitting Britain in favour of Ireland's lighter tax regime. Corporation tax is 10% in Ireland, against 28% in Britain. The company plans to centralise all its EU operations in Dublin. It has already moved its car and home insurance business to the Irish capital. Sources close to the group insisted the plans were not solely motivated by tax, although it was a factor. Under the new structure, Zurich's British...