Liberty Mutual buys up remaining stake in former Quinn Insurance
Company announces creation of 150 jobs in Dublin
LIBERTY Mutual Insurance Group has purchased IBRC's stake in the former Quinn Insurance firm and now owns the insurer lock stock and barrel.
The deal to purchase the final 49pc stake in the firm was just completed this morning - just ahead of the announcement at the Department of Jobs, Enterprise and Innovation.
The company has also announced the creation of 150 new jobs over the next two years.
The jobs will be created in the company's IT department in their Blanchardstown office in Dublin.
The announcement has been welcomed by Minister for Jobs, Richard Bruton and the IDA.
The Department of Jobs, Enterprise and Innovation is supporting the investment through IDA Ireland.
Minister Bruton met senior executives from the company as part of an IDA Ireland investment mission to the USA last autumn.
The new jobs represent an expansion of the company's IT operations, which current employ over 350 people in Belfast.
Meanwhile Minister Bruton also announced the appointment of Frank Ryan as Chair of the IDA, as reported in the Irish Independent.
Mr Ryan, who recently retired as CEO of Enterprise Ireland previously worked for 25 years with IDA Ireland, including a period in North America.