LIBERTY Mutual Insurance Group, which employs 300 people in the former Quinn Insurance premises it acquired in Enniskillen, has taken over the Newtownards-based Hughes Insurance.
The transaction is expected to be completed in July next year.
A spokesman for Liberty told the Herald there would be no chance to the employment numbers in Enniskillen.
Liberty Insurance also operates from offices in Cavan and Dublin. It provides car and home insurance to the Irish and UK consumer market, along with commercial insurance to the business sector in Ireland.
Its Enniskillen ‘customer care’ call centre handles insurance policies, both for the UK and, principally, for the Republic markets.
The Northern Ireland market forms only a small part of the Enniskillen operations, hence the reason job numbers are not affected.
Hughes Insurance, established in 1977, operates exclusively in Northern Ireland, selling motor, van, home, business and travel insurance.
It employs over 300 people at its headquarters in Newtownards and at its 11 other branches across Northern Ireland, including Omagh.
It distributes 1 in 5 motor insurance policies sold in Northern Ireland, and it has a rapidly growing household and SME (small to medium enterprise) commercial insurance book.
Hughes Insurance has appointed Liberty Insurance Limited, a fully owned subsidiary of Liberty Mutual Insurance Group, as its leading underwriter for new policies issued with effect from July 1, 2014.
The chief executive of Liberty Insurance, Patrick O’Brien said that, over the past two years, Liberty had built a substantial business in the Republic of Ireland.
“I believe Liberty’s acquisition of Hughes, and our appointment as lead underwriter will enable us to build a leading presence in the Northern Ireland market through Hughes’ established network.”
Liberty Mutual is ranked 76th on the ‘Fortune 100’ list of largest corporations in the U.S. based on 2013 revenue.
It employs more than 50,000 people in some 900 offices throughout the world
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