Irish Life websites
Irish Life Health
Welcome to Ireland’s newest health Insurer, Irish Life Health. Bringing fresh options and innovation to the health insurance market.
Irish Life
Irish Life the largest life and pensions group and fund manager in Ireland, employing 2,000 people and servicing one million customers.
Irish Life Investment Managers
Managing assets in excess 39bn, ILIM manages money on behalf of multinational corporations, charities and domestics.
Irish Life Corporate Business About Us
About Us

Of the 30 largest Irish Pension Funds, we manage 23 of them, and 7 of the 10 biggest US companies choose Irish Life for their Irish employees' pensions.

(Source: Irish Life Investment Managers, November 2016)

About Irish Life

Established in 1939, Irish Life is Ireland’s leading life, investment and pension company.  Irish Life is now part of the Great-West Lifeco group of companies, one of the world’s leading life assurance organisations.


Founded more than a century ago in Winnipeg, Canada, Great-West Lifeco and its subsidiaries have a record for financial strength, earnings stability and consistently high ratings from the independent rating agencies.  For example, The Great-West Life Assurance Company has an AA (Very Strong) rating for insurer financial strength from Standard & Poor’s.


Irish Life is committed to delivering innovative products backed by the highest standards of customer service and, as part of Great-West, has access to experience and expertise on a global scale, allowing the company to continuously enhance its leading range of products and services.

 

Information correct as of October 2016. For the latest information please see the Great-West Lifeco website.    


Irish Life Assurance plc is regulated by the Central Bank of Ireland.

About Irish Life Corporate Business

Corporate Business is the part of the organisation that provides group retirement and risk products to employer and affinity groups.


Corporate Business is the biggest provider of employee benefit solutions in Ireland. We have approximately 645,000 customers (both public and private sector), spread over 7,200 group arrangements, for whom we administer pensions, life assurance and income protection. We insure 1 in 6 private sector employees.


Our mission is to help workers to provide for a secure financial future for themselves and for their families.

Corporate History

  • 2013 - Great-West Lifeco completes the acquisition of Irish Life
  • 2012 - Demerger of Irish Life & Permanent Group Irish Life Group acquired by the Minister for Finance / Irish Government
  • 2011 - Disposal of Irish Life International Ltd to SEB Trygg Liv Holding AB
  • 2010 - Irish Life Financial Services (ILFS) was incorporated and is a 100% subsidiary of the Irish Life group
  • 2008 - Acquisition of remaining 25% of Cornmarket Group Financial Services Ltd
  • 2005 - Disposal of City of Westminster Assurance plc (CWA) to Chesnara plc.
  • 2004 - Disposal of Irish Estates Management Ltd (IEM) to a group of private and institutional investors.
  • 2003 - Disposal of remaining US business, Guarantee Reserve, to Swiss Re
  • 1999 - Merger of Irish Life plc and Irish Permanent plc in April. Disposal of interests in joint ventures with Kredietbank in Ireland and Hungary. Acquisition of Cornmarket Financial Services Group.
  • 1997 - Wind up of Xaar, the group’s general insurance business, in France. Acquisition, in partnership with Kredietbank, of minority stake in Kereskedelmi es Hitelbank Rt. (Hungary). Acquisition of Guarantee Reserve, a funeral expense life business in US.
  • 1996 - UK life operations closed to new business.
  • 1994 - Entry into US variable life market with acquisition of First Variable. Sale of Norwegian subsidiary, DAVID.
  • 1993 - Acquired City of Westminster Assurance, consisting of a closed book of life business in the UK.
  • 1992 - Established general insurance business in France through subsidiary, Xaar.
  • 1991 - Public flotation of Irish Life plc on Dublin and London Stock Exchanges in July.
  • 1990 - Norwegian life assurance company DAVID acquired. Group restructured with creating of holding company, Irish Life plc.
  • 1989 - Joint venture with Irish Intercontinental Bank (subsidiary of Kredietbank) in mortgage lending.
  • 1988 - Operations in US commence with acquisition of Interstate Assurance Company.
  • 1982 - Controlling interest in Church & General, a general insurance company, acquired. Interest subsequently diluted and Allianz now majority shareholder.
  • 1979 - Irish Life Building Society established.
  • 1965 - UK branch operation commenced.
  • 1964 - Irish Life introduced the first unit-linked policy in Ireland.
  • 1947 - Restructuring and purchase by Minister of Finance of shares held by British life assurance companies resulting in a government holding of 90.25%.
  • 1939 - Irish Life Assurance incorporated, as part of the amalgamation of nine British and Irish life assurance companies. The Minister for Finance held 18% of the shares of the company.

Irish Life Group Activities

Irish Life is Ireland’s leading life and pensions group with a market share of over 30%. The company provides a wide range of risk protection, pension, savings and investment products for both the individual and group markets in Ireland.
 
Irish Life Retail
The Retail division provides life and pensions products to personal and small business customers in Ireland. It is the market leader with a comprehensive product range spanning life insurance, pensions, investment and regular savings products. Irish Life Retail follows a multi-channel distribution strategy, distributing approximately half of its new business through independent brokers and independently regulated tied agents and half through tied agents in bank branches and its employed and self-employed sales force. The business has long-term bancassurance arrangements with four of Ireland’s leading bank networks (AIB, EBS, permanent tsb and Ulster Bank)
 
Irish Life Corporate Business
Corporate Business is the part of the organisation that provides group retirement and risk products to employer and affinity groups.
 
Corporate Business is the biggest provider of employee benefit solutions in Ireland. We have approximately 628,000 customers (both public and private sector), spread over 7,300 group arrangements, for whom we administer pensions, life assurance and income protection. We insure 1 in 6 private sector employees.
 
Our mission is to help workers to provide for a secure financial future for themselves and for their families.
 
 
Fund Management
Irish Life Investment Managers (“ILIM”) is the largest manager of life assurance and pension assets in Ireland, with a 35% market share and funds under management of €50bn. It attributes its market leading position to continual product development allowing it to provide the most appropriate investment solutions to meet the needs of its clients.
 
Brokerage and Third Party Administration
Cornmarket Financial Services Limited, a wholly owned subsidiary of the group, is an independently regulated life and general insurance brokerage company. The business concentrates on distribution through the public sector and other affinity markets.
 
Irish Progressive Services International (“IPSI”) is a third party life assurance service provider operating from Dublin. IPSI provides full administrative support to client companies selling and distributing their products in various European territories, the list of which now includes Austria, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Poland, Spain, Sweden, Switzerland (Liechtenstein) and the UK.
 
General Insurance (Associate)
The group has a minority interest (30.4%) in the third largest non-life insurer in the Irish market. The majority partner is Allianz and the business trades under the Allianz brand. The group has a long-term agreement with Allianz for the distribution of its household insurance products.

Board and Management

Board of Directors
  • Arshil Jamal - Chairman
  • Timothy Ryan - Non Executive Director
  • Mary Finan - Non Executive Director
  • Allen Loney - Non Executive Director
  • Bill Kyle - Non Executive Director
  • David  Harney - CEO
  • Derek Netherton - Independent Non Executive Director
  • Brian Forrester - Independent Non Executive Director
  • Cecil Hayes - Independent Non Executive Director
  • Rose McHugh - Independent Non Executive Director
  • Brendan Murphy - Independent Non Executive Director
 
 
Senior Leadership Team
  • David Harney - CEO
  • David Boyle - General Counsel
  • Patrick Burke - Managing Director, ILIM
  • Kieran Dempsey - Managing Director, Setanta
  • Tony Lawless - Managing Director, Corporate Business
  • Denis McLoughlin - Managing Director, Irish Life Retail
  • Jim Dowdall - Managing Director, Irish Life Health
  • Tracey Deeks - Executive Director, Corporate Resources
  • Linda Kerrigan - Chief Actuary & Chief Risk Officer
  • Brendan Healy - Chief Information Officer
  • David Killeen - Finance Director

CSR

Information about the activities we partake in as part of our Corporate and Social Responsibility program.

Spotlights
  • EMPOWER PLS from Irish Life Corporate Business
  • Company pensions explained
  • Awards won by Irish Life Corporate Business
Irish Life EMPOWER
The vision for Irish Life EMPOWER is to help deliver better outcomes to your staff in retirement.
What is a Pension?
Whilst you've probably heard a lot about how being part of a pension plan is important, it can be a little bit more difficult to get your head around how a pension actually works. That's why Irish Life Corporate Business has developed this video outlining the basics of how company pension plans work.
Awards & Achievements
We are winners – don’t just take our words for it.
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