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Minister Richard Bruton Sam Boal/Photocall Ireland

€8 million invested into Dublin facility for Munich Re

The company is one of the largest reinsurers in the world and will also create 17 jobs at its strategic R&D facility.

OVER €8 MILLION will be invested into the opening of a Dublin R&D facility for the company Munich Re.

Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, announced today that the Automation Solutions division of Munich Re, which is one of the largest reinsurers in the world, is to establish a strategic R&D facility in Dublin.

The division currently employs 47 people in Ireland and the new project involves the creation of up to 17 additional highly-skilled new positions as well as the planned investment of over €8 million.

The Irish government, through IDA Ireland, has worked closely with the company on this move.

Investing and expanding

Established in Dublin in 1986, Munich Re’s Automation Solutions division (formerly Allfinanz) is the world’s leading provider of automated underwriting solutions to life insurers.

The R&D team will focus on complex data mining and statistical analysis techniques that will enable Munich Re’s Automation Solutions to more accurately assess underwriting risk across a range of insurance classes.

Minister for Jobs, Enterprise and Innovation Richard Bruton TD said:

Today’s announcement that Munich Re is investing and expanding its operations here with the creation of 17 new jobs is very welcome news for our financial services sector.

Ross Mayne, CEO of Munich Re’s Automation Solutions division, said they are delighted to be making this investment in such innovative R&D.

Ireland is our global centre for commercial software development. Our positive experience and the success we have enjoyed here made Ireland the natural choice for this pioneering project.

Barry O’Leary, CEO of IDA Ireland, said that financial services has been identified as a key growth area for Ireland’s economy and that this move will enhance Ireland’s profile as a “global investment hub”.

Read: Sinn Féin launches its jobs plan>

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18 Comments
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    Mute Brian Donovan
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    Jan 30th 2012, 11:42 AM

    Good news, but I hope the extra capacity isn’t to ferry all our emigrants to Australia.

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    Mute James Gibbons
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    Jan 30th 2012, 3:07 PM

    well I booked tickets to oz on Friday and Emirates via dubia was the cheapest option.

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    Mute pagan
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    Jan 30th 2012, 11:43 AM

    I have to say fair play to the D.A.A for getting this airline into Dublin.It will help with toursim etc and its good news for a change.

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    Mute Ronan Kelly
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    Jan 30th 2012, 12:17 PM

    Pitty the greedy daa don’t consider their other 2 struggling airports when it’s comes to acquiring new airline and new routes.ie Shannon and cork!

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    Mute Jimmy Bennett
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    Jan 30th 2012, 12:34 PM

    Bullshit…Bringing tourism to Ireland??!! Dublin to Sydney return – e900, Sydney to Dublin Return e1600…Hmmm…

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    Mute James Dunne
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    Jan 30th 2012, 2:20 PM

    I’d say Aer Lingus are sickened that they pulled this route a few years back.

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    Mute john g mcgrath
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    Jan 30th 2012, 2:30 PM

    Well it was the guy running the show at the time he managed to get flight to arrive at a time that you had to over night there for next day connection to far east and aus.
    This flight gets you onward connections to almost any where within 2 hours

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    Mute Catriona Laverty
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    Jan 30th 2012, 3:25 PM

    Came home from NZ with Emirates, cheapest option and class act. Brilliant that we don’t need to stop in Heathrow anymore.

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    Mute Andrew Telford
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    Jan 30th 2012, 1:57 PM

    Getting connected to the world, good to hear

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    Mute Peter Andrew Stone
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    Jan 30th 2012, 11:27 AM

    The bankers and the bondholders making good use of taxpayers loot!

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    Mute Cormac Hennessy
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    Jan 30th 2012, 6:55 PM

    Great news! Here’s the first flight only three weeks ago!

    http://www.youtube.com/watch?v=bLm7e2_djS8

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