Reinsurance company Axa XL has put its island headquarters on Bermudiana Road up for sale.

A spokeswoman said: “We can confirm that O’Hara House is on the market for sale. Owning real estate involves significant management and investment.

“As an insurance and reinsurance company, we believe that the equity from our building can be invested in our business to further support our clients and brokers.

“Our Bermuda insurance and reinsurance operations will remain on island, perhaps even in O’Hara House, if a new buyer can accommodate.”

Axa XL is an American subsidiary of global insurance and reinsurance company Axa, which is headquartered in Stamford, Connecticut, and domiciled in Bermuda.

It has more than 100 offices on six continents, but the spokeswoman said the Bermuda office was the only office building it owned.

No details of the asking price have been revealed. However, the nearby five-storey Compass Point building was recently listed for sale for $19.5 million.

At the time, Penny MacIntyre, a partner at Rego Sotheby’s, said: “Rarely does a building come online in town that offers a number of solutions.

“Compass Point is an ideal office tower for an owner-occupier seeking prime location with 35 car and ten bike-parking spots.

“Alternatively, Compass Point also suits a developer seeking a strategic location in town to potentially convert into multi-use residential, retail and office space.

“The large private parking lot adjacent to the building provides excellent staging for renovation logistics.”