Irish Life is to re-enter the with profit investment fund market after an absence of more than 12 years, with the Secure Investment Bond. The with-profit market in the Republic attracts up to £600 million (€762 million) in investments each year. Irish Life will target £100 million of these investments over the next 12 months.

The Secure Investment Bond will invest in the with-profit fund of Winterthur Life - one of the largest insurance companies in Europe and part of the Credit Suisse Group. There is a higher equity portion in the investment fund - 80 per cent compared to a more typical 60 per cent.

With-profit bonds are specially structured to provide potentially higher returns typically associated with equity investments, but without the volatility of direct equity investing.