Insurance giant AXA today opened a new customer contact centre in Derry which will create 150 jobs.
The centre had been set up to service AXA's business across Ireland where it is currently the second largest motor insurer.
The centre is the result of a £15 million investment announced earlier this year by the company and will generate £2.4 million a year in salaries for the Derry area. Invest NI offered almost £1.8 million support towards the project.
AXA currently employs 108 people between its Northern Ireland head office in Belfast and its Northern Ireland branch network.
Speaking at the opening Leslie Morrison, Invest NI's chief executive said: "AXA's decision to invest in a second major centre in Northern Ireland reflects the confidence that world class companies have in the skills and business environment that they find here."
He said the investment brought benefits not only to the North-West, but the Northern Ireland economy as a whole.
"Our financial services and contact centre sectors have grown rapidly in recent years as international companies increasingly recognise that Northern Ireland is a cost competitive location that can add value to their operations," he added.
Phil Bradley, AXA's executive director , said the new centre would allow the company to build on its existing presence in Northern Ireland and grow business across the whole island.
He said: "AXA Insurance has a rapidly increasing client bank and we are confident that this facility and the high calibre staff we have been able to recruit, will help us to maintain the quality customer service that is synonymous with the AXA name."