Ecclesiastical announces €2.4m Ireland investment

The recruitment process will begin immediately.

Operating through insurance brokerages across the island, the company, which serves five key niche markets in Ireland - faith, charity, care, heritage and education, is targeting significant growth across its core markets.

Speaking about the investment, managing director for Ecclesiastical's Ireland business, Ronan Foley said: "This investment is greater than our previous investment made at the height of the economic boom and signals our confidence in Ireland at a time when there is a lot of doom and gloom about. We believe the Irish economy is strong enough to get through the current financial and economic pressures and we believe that now is a good time to leverage our position in the market across the island."

"Our business model is both unique and robust and our ethical approach is underpinned by our expertise as specialist insurers in our target markets. All this gives us a highly competitive advantage. It must also be noted that this investment is aimed at growing our business and profits which in return will see further increased dividends for Irish society through community and charitable donations. Our announcement today is a vote of confidence not only in our proposition, but more importantly, in Ireland, its people and its economy."

Michael Tripp, group CEO, Ecclesiastical Insurance said: "Our business in Ireland has been resilient in what have been challenging trading conditions, but we believe that the Irish economy is, and will continue to, weather the storm and our announcement today is testament to our view."