Global Indemnity PLC Announce Cavan IT Investment

3 Nov

Global Indemnity PLC

 

(Via Gillian Lawless – IDA)

Minister for Agriculture, Fisheries and Food, Brendan Smith T.D. today (3rd November 2010) announced that global insurance and reinsurance provider, Global Indemnity plc, is to establish an IT development operation in Cavan through its subsidiary, Global Indemnity Services Ltd., creating 30 high value jobs over the next 5 years. Global Indemnity Services will employ a wide range of technical staff to provide IT development for the Company’s policy administration and finance functions.  The investment is supported by IDA Ireland.

The release follows Global Indemnity’s recent announcement that it had completed its redomestication to Ireland and anticipated opening an operational office in addition to its administrative headquarters in Ireland by the end of the year, with the initial focus being IT development.

Minister Smith, welcoming the announcement, said “Today’s announcement is excellent news for the North East region and Cavan in particular.  Global Indemnity is an established global insurer and reinsurer and is a welcome addition to the area.  The Company’s decision to locate in Cavan is an endorsement of the attractiveness of the area to global investors.  The availability of local talent, its position within the North East region and its proximity to Dublin with the recent opening of the new M3 motorway are all major factors contributing to the attractiveness of the area.  I would like to thank Global Indemnity for offering such excellent employment opportunities to the people of Cavan, and can assure the Company that it has my full support into the future as it develops its operation here.”

Larry Frakes, President and Chief Executive Officer of Global Indemnity plc said: “Ireland is an excellent locale for our headquarters with a supportive environment and infrastructure from which to conduct an international business.  Our decision to locate IT development operations in Cavan is based on the availability of a highly skilled local workforce, excellent IT infrastructure, and the access Ireland provides us to EU markets. Global Indemnity Services will play a major role in strengthening our European presence.  We look forward to developing the operation with the support of IDA Ireland.”

Barry O’Leary CEO, IDA Ireland added: “Ireland has a strong reputation as a leading location for global insurance companies, with over 15,000 people employed in the industry here.  Global Indemnity is an excellent addition to this cluster.  IDA Ireland looks forward to working closely with the company as it establishes its operation here.”

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