Insurance group Zurich creates 240 jobs after two-year recruitment drive - Minister O'Keeffe

14 June, 2010

The insurance group, Zurich, is creating 240 new jobs in Ireland as part of a two-year recruitment drive, according to the Minister for Enterprise, Trade and Innovation, Batt O'Keeffe TD.

The recruitment drive, which will be completed by the end of this year, will bring Zurich's total workforce here to 1,100.

Already, 120 of the jobs have been filled through a new business centre in Wexford.

The rest of the jobs are being filled in two of the company's European centres - in the Irish Financial Services Centre, Dublin, and Blackrock, Dublin.

Minister O'Keeffe this week welcomed the chief executive of Zurich Financial Services Group, Martin Senn, to Ireland.

'World-leader Zurich has chosen Ireland as the European centre for its strategically important operations - a strong endorsement of our highly educated and flexible workforce in the financial services sector.

'The creation of 240 positions which will all be filled by the end of the year demonstrates Zurich's commitment to growth in Ireland and reaffirms the Government's confidence in our ability to recover from recession,' said Minister O'Keeffe.

The chief executive of Zurich Insurance plc and chairman of Zurich Life Assurance plc, Markus Hongler, said: 'Zurich considered a number of options and Ireland best met our requirements because of its long-standing membership of the European Union and the euro, a well-developed insurance market and a highly educated and skilled workforce.

'These factors continue to underpin our success and drive our business in Ireland and across Europe.'

The key European developments for Zurich in Ireland are:

Zurich Insurance plc [General Insurance] is headquartered in the Irish Financial Services Centre in Dublin. It is Zurich's main insurance risk-carrier for most of its EU general insurance business. Zurich Insurance plc operates in Ireland and across the EU with branches in the UK, France, Netherlands, Belgium, Denmark, Norway, Sweden, Finland, Spain, Portugal and Italy. Zurich Insurance plc plans to expand its operations with the transfer of business from Germany to Dublin, making it the largest general insurance operation in the EU. Zurich Insurance plc will employ 60 workers by the end of this year.

Zurich Global Life has been developing life insurance products for European markets in Blackrock, Dublin, since last year. The European manufacturing and servicing hub is manufacturing products for markets in Ireland, Italy, Germany and the UK. It has filled 35 skilled positions, with 25 workers to be hired this year.

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Editors' Notes:

Zurich Group: Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs 60,000 workers serving customers in 170 countries.

Zurich General Insurance Ireland: Zurich Insurance offers a wide range of products from private motor and home insurance to engineering and commercial property insurance. It won the KPMG Non-Life Insurance Excellence Award in 2007 and 2008.

Zurich Life Ireland: Zurich Life offers a full range of pension, investment and protection products. It has funds under management of about €9.8 billion of which pension assets amount to €5.7 billion.

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For further information please contact:

Bernard Mallee, Press Adviser to Minister Batt O'Keeffe, Department of Enterprise, Trade and Innovation, on Tel: +353 1 631 3944, Mobile: +353 87 9173022, Email: bernard.mallee@deti.ie