LIBERTY INSURANCE, THE company who took over from Quinn Insurance, has today announced 285 job losses.
The company said the redundancies will impact various functions with 140 redundancies expected in Dublin, 75 in Cavan, and 70 in Enniskillen. Currently, approximately 500 staff work in each location.
Liberty Insurance today announced that it will enter the Northern Irish and British general insurance markets by acquiring the renewal rights to the policies written there by Quinn Insurance Ltd. Company.
Following a review of the market entry moves and its cost base, employees were told at briefings today that there would be 285 job losses and they hope most of them to be voluntary, as the UK insurance business has fallen over the past few years.
Reflecting on the job losses, Patrick O’Brien, Chief Executive of Liberty Insurance said:
We have achieved much in our first year in the Irish market and during that time have maintained staff levels that reflected the size of the business. We are fully committed to the Irish business, will continue to invest in our business, and believe that our arrival has been positive for the Irish Insurance market and consumers.