US life assurance group MetLife said on Wednesday it planned to add more than 200 jobs in Ireland as it opens a new global technology campus in Galway in the first half of next year.
The company, which began its Dublin operations in 2006 with 10 employees, has grown its workforce in this stage to more than 300 people.
The Dublin operation oversees the provision of life and non-life insurance products in markets across Europe, with supporting functions including actuarial, finance, compliance, risk, legal and other support and management functions.
The new campus in Galway will accelerate MetLife’s digital and innovation potential, creating solutions for the New York group that can be rapidly scaled to markets around the world, it said in a statement.
Recruitment for the new positions is set to begin immediately.
"Bringing together a wide array of technologists in a single hub will not only increase our operating leverage, but also accelerate our culture of collaboration," said Marty Lippert, executive vice-president and head of MetLife's global technology and operations division.
The IDA-supported investment fits in with the Government’s aim to add 200,000 new jobs to the economy by 2020, with 135,000 of those outside of Dublin, Taoiseach Enda Kenny said.
New base
Reports over the summer had speculated that MetLife would create up to 400 new jobs at the new base in Galway, which will be in a property in the city centre called Hynes Building.
While it is understood that plans for the Irish expansion were well advanced before the UK decided to exited the EU, the IDA has been courting scores of other financial firms since the vote as it vies with other euro zone countries, including France, Germany and Luxembourg, that are seeking to lure business from London.
This week it emerged that Chicago-based derivatives exchange CME Group is examining options in Dublin to ensure its clearing house maintains access to EU customers after the UK leaves the block.
Other UK companies in the exchange industry, such as currency venue LMAX Exchange and Bats Global Market’s London unit, have indicated in recent months that they are looking at locating in Dublin.
