Quinn Direct signalled its intention seek a greater share of the Irish insurance market yesterday when it unveiled plans for an €11.5 million services centre, which will create 350 jobs over the next three years.
The centre, at Enniskillen, Co Fermanagh, will process and assess claims.
The investment underlines the company's determination to establish a wider market presence, Quinn Group chief executive Mr Sean Quinn said.
The company has made no secret of its determination to expand in the Republic and the North, where it enjoys 9 per cent and 6 per cent market share respectively.
Heavy resources are being pumped into investment processes, which enables Quinn Direct to minimise costs and tighten competitiveness - the two critical growth drivers in the sector, Mr Quinn said.
The group chose Enniskillen because of its "unrivalled" telecommunications infrastructure and educated workforce.
Invest NI, Northern Ireland's investment support agency, will contribute €3 million towards the capital costs.
Quinn Direct is part of the Quinn Group, established in 1973 by Mr Quinn. The group has a €500 million annual turnover, employs 2,500 and has interests in cement, concrete, glass packaging and hotels.
The project was an important boost for Enniskillen, said Mr Ian Pearson, the North's enterprise and trade minister.
"Quinn Direct Insurance will be putting in place leading-edge e-commerce capability which will support efforts by Invest NI, the council and other key stakeholders to diversify the local economy and to promote knowledge-led industries, including internet-focused activities," he said.
"The investment, which will offer a large number of people in the area the opportunity to apply for jobs and acquire transferable skills, represents a further and very substantial endorsement of the county as an attractive business location."
Recruitment is expected to begin shortly and the office is set to open within weeks.
Quinn Direct was founded in Cavan in 1995.
It was the first insurance company to appear on the market since 1982. The company offers commercial, motor and household insurance. It is a sister company of Quinn Life, which offers pensions and life assurance products.
