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OVER €8 MILLION will be invested into the opening of a Dublin R&D facility for the company Munich Re.
Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, announced today that the Automation Solutions division of Munich Re, which is one of the largest reinsurers in the world, is to establish a strategic R&D facility in Dublin.
The division currently employs 47 people in Ireland and the new project involves the creation of up to 17 additional highly-skilled new positions as well as the planned investment of over €8 million.
The Irish government, through IDA Ireland, has worked closely with the company on this move.
Investing and expanding
Established in Dublin in 1986, Munich Re’s Automation Solutions division (formerly Allfinanz) is the world’s leading provider of automated underwriting solutions to life insurers.
The R&D team will focus on complex data mining and statistical analysis techniques that will enable Munich Re’s Automation Solutions to more accurately assess underwriting risk across a range of insurance classes.
Minister for Jobs, Enterprise and Innovation Richard Bruton TD said:
Today’s announcement that Munich Re is investing and expanding its operations here with the creation of 17 new jobs is very welcome news for our financial services sector.
Ross Mayne, CEO of Munich Re’s Automation Solutions division, said they are delighted to be making this investment in such innovative R&D.
Ireland is our global centre for commercial software development. Our positive experience and the success we have enjoyed here made Ireland the natural choice for this pioneering project.
Barry O’Leary, CEO of IDA Ireland, said that financial services has been identified as a key growth area for Ireland’s economy and that this move will enhance Ireland’s profile as a “global investment hub”.
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3000 emigrating a month, and he comes out with 17 jobs, why don’t I feel inspired?
It’s also a pretty large investment of capital which will probably lead to indirect jobs elsewhere.
Jesus David, they’ve trained you well. Start going bald and develop a stutter and you could hang with the big boys soon.
I’m sorry David but I find it frightening the the minister for jobs and enterprise has taken (what one would hope is valuable) time to announce 17 jobs!
8 million for 17 jobs…. Sounds like they’ll be on ministers pay
If we create 17 jobs as day we should be back to zero unemployment in 25,882 years.
At 8 million for 17 jobs we’ll be broke long before that……
Olhausen closed last week with a loss of 160 jobs, and today Dick Bruton shows his face with the creation of 17 jobs.
Now, I’m no maths whiz but if my calculations are correct, then I think it’s still a nett loss of jobs…
Maybe you should add the jobs created by Kerry Group and Paddy Power to your equation.
Ok, so thats 470,000 minus…what? Are we still down on jobs or do you do your sums a different way to the rest of us?
I used to be based out of the same building as their offices… Lots of Bentleys and Porsches in that carpark
No, the fact of the matter is that over 1200 new jobs were created in the past 7 days. In addition they will have an indirect creation of another 1.2 jobs per 1. I’m aware of the current unemployment level, but these jobs mean 1200 families may have a better future now.
Well in 5 years time anyway when the jobs become real….maybe
So, new jobs = terrible news, according to our “highly qualified” resident “online experts”. Yay!
Jeez, here since 1986 and only employ 47????? hooray for another 17 jobs, so much for our low corporate tax??
Jeanie Johnston famine ship cost 11 million so that puts this insult in perspective.
is it me or does Richard Bruton look like an older Daniel Craig in the pic?
Yep….. you have a point there.
have your say