It was announced today that Darta Saving Life Assurance/Allianz Global Life, both part of the global Allianz Group, have announced they will contribute close to €75 million to the Irish economy by its Irish operations over the next two years. This will see an increase in their combined work force by a quarter and an expansion into new offices in Dublin, serving more European Countries.
The two companies make up the Allianz life assurance international hub in Ireland, which has grown continuously over the past five years. This hub directly employed 26 people in 2012, growing to 74 in 2017 and today’s announcement will see that increase to around 100 staff in the next two years. These roles will include vacancies in marketing, sales, the development of digital distribution, finance, accounting, actuarial and risk management.
The two companies have worked closely to grow the sales of the hub, from €1.5 billion in 2012 to just under €6 billion at the end of 2017. Darta Saving/AGL have also grown their assets under management, with €6 billion in 2012 growing to around €20 billion at the end of 2017.
Darta Saving/AGL are marking this impressive growth and bright future with an event to mark the opening of its new headquarters in Maple House in Blackrock, County Dublin. A plaque was unveiled by Minister of State at the Department of Finance & Public Expenditure and Reform, Michael D’Arcy TD, as well as Carsten Quitter, Chairman of Allianz Global Life and Global CIO of the Allianz Group.
Welcoming the news, Minister for Financial Services and Insurance, Michael D’Arcy said, "Today’s announcement represents a significant vote of confidence in the Irish economy. This investment continues the long-standing commitment of Allianz to Ireland and demonstrates the attractiveness of Ireland as a location to do business, with a highly educated workforce and a predictable legal and regulatory framework. The Government continues to work closely with industry to implement the IFS2020 Strategy in its aim to promote Ireland as the European location of choice for financial services."
Chairman at Allianz Global Life dac, Carsten Quitter added, "Ireland has proven to be a spring board for our operations. Our Irish base allows us greater freedom in asset selection and mix, access to in depth experience in unit linked business, plus a competitive cost base while we benefit from a strongly regulated insurance environment, and access to highly educated talent that will help us achieve our ambition to focus on our customer needs, bring innovation to the market, increase operational flexibility and reassure them with the security of the Allianz Group."