XL Capital Ltd. has announced it plans to redomicile to Ireland from the Cayman Islands as it became the latest Bermuda-based company to signal its intent to change its parent holding company's place of incorporation.

XL CEO Michael McGavick said he expected the decision to reincorporate in Ireland would have no impact on the insurance giant's Bermuda operations and staff, while the move would also see the parent holding company renamed XL Group plc.

This follows a number of companies redomiciling from Bermuda to Ireland in recent months, with Willis Group Holdings Ltd. among the most recent high profile departure joining a growing list of planned or completed movers, including Accenture, Covidien, Ingersoll-Rand, Cooper Industries Ltd., Warner Chilcott and TBS International.

l Full story in Business, Page 31.