Liberty Mutual has bought the remaining portion of the former Quinn Insurance and announced the creation of 150 jobs in Dublin.
The jobs are part of the insurance provider’s IT operations and will bring the number of people employed by Liberty Mutual on the island of Ireland to 1,500.
Liberty, based in Boston, and IBRC’s predecessor, Anglo Irish Bank Corp, took control of Quinn Insurance two years ago, after the Irish insurer was placed into administration in 2010 amid concerns about the company’s solvency. The sale of the remaining stake in the company, since renamed Liberty Insurance, is a result of IBRC’s liquidation, ordered by the State in February.
CEO of Liberty Insurance Patrick O’Brien said that the developments were a sign of the company’s commitment to Ireland.
“We are pleased that Liberty Mutual has confirmed its commitment to Ireland with the completion of the acquisition of 100% of Liberty Insurance’s parent company. Over the past two years Liberty Insurance has made substantial progress in the Irish market and today’s announcement positions us for further growth,” he said.
Minister for Jobs Richard Bruton said that they were targeting the international financial services sector as part of the plan to get Ireland back to work
“International financial services is a sector which we have targeted as part of our Action Plan for Jobs, and over recent months we have seen significant jobs growth in this area,” he said.
Chief information officer of Liberty Mutual Insurance Group James McGlennon said that Ireland’s geographic location allowed them to provide support globally around the clock.
“Expanding our IT operations in this way strengthens our global software engineering and advanced development capabilities. It also enables a ‘follow the sun’ strategy for technical support and security operations. The decision to invest in Dublin reflects the quality of IT graduates and experienced professionals available to support future growth.”
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