Financial software firm BSB today officially marked the launch of its Irish subsidiary which will employ 20 staff when fully operational.
The move is designed to develop the group’s Irish market in the lucrative life insurance sector.
The company, which has operations in Belgium and Luxembourg, said the initial commercial target of the Irish office, located in Ballsbridge, Dublin, is the life insurance sector.
“Ireland has been mainly selected by BSB because its life insurance market is similar to BSB’s existing markets with respect to product structure and Ireland has a vibrant cross-border distribution network,” it said.
The company has ambitions to further expand into the UK and other English speaking cross-border insurance markets such as the Isle of Man and the Channel Islands.
Head of BSB Ireland Frédéric Martin said the company’s entry into the Irish market was “a sign of its confidence in Ireland as an economy and the maturity of the Irish financial services industry”.
Tánaiste and Minister for Enterprise Trade and Employment Mary Coughlan said: "BSB's decision to base its operations in Ireland will not only create jobs in the short term, but reinforces Ireland's competitive reputation in the broader market."