Australian travel insurer to create up to 60 jobs as it establishes European HQ in Cork
Australian travel insurer World Nomads Group (WNG) has launched its European operations and headquarters in Cork.
The establishment of its Cork headquarters is part of the group’s overall expansion plan, and the office will directly manage the company’s European travel insurance business.
As part of the growth, the group plans to increase its staff numbers in Cork from 20 to more than 80 over the next 18 months.
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"We are currently migrating our European travel insurance arrangements from the UK and continental Europe to our Cork office. We estimate this will involve the transfer of more than 100,000 policies," Bernard O’Sullivan, WNG’s manager for Europe, said.
"We have already employed more than 20 high-quality staff in Cork to support our operations. We expect this to increase to more than 80 staff over the next 18 months," he added.
WNG will manage all the functions of a travel insurer to its European customers such as product design, pricing, customer service, claims and emergency assistance.
It will partner with specialist organisations to carry the underwriting risk.
The announcement was welcomed by Cork TD and Minister for Foreign Affairs Simon Coveney, who described it as "another great day for the Cork economy."
"It demonstrates the value and attractiveness that Cork and Ireland have to offer to major companies wishing to operate in Europe. This is very important for the Irish economy especially within the context of Brexit," he added.
WNG is part of the Nib group, a health and travel insurance company based in Australia. Nib is listed on the Australian Securities Exchange with a market capitalisation of approximately AUD$2.5bn and more than 1,500 employees in eight countries around the globe.