Liberty’s Irish operation was subsumed into Madrid-based Liberty Seguros in 2018, leaving it as a branch of the Spanish company.
Liberty recorded €825 million premiums in Spain and wrote €235 million of business in Portugal in 2021. It had almost 550 employees on the island of Ireland, and a further 1,250 workers on the Iberian peninsula. Its bid to increase its exposure to the Republic follows a number of reforms aimed at reducing volatility and coverage costs in a historically highly volatile market, even by the cyclical nature of insurance internationally.
Meanwhile, the Central Bank of Ireland imposed a ban last July on the previously widespread practice of motor and home insurers increasing premiums for loyal customers by stealth.
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