Insurance keeps on recruiting

It might not be the most exciting area of financial services, but in a rare piece of good news, the insurance sector in Ireland is still offering ample career opportunities.

What are the reasons for this unbridled optimism? Well, in the last month Beazley Group chose Dublin for its HQ and Max Europe unveiled plans to expand its Irish presence.

"As an organisation, we have been impressed by the quality of available staff in Ireland," says Walker Rainey, managing director of Max Europe.

Similarly, Halifax Insurance intends to add 15 staff this year to take its Irish workforce to 360, Canada Life is adding 10 employees to reach 130, and Axa, Axis, HSBC and we understand Royal Sun Alliance may have plans to enter Ireland.

Other recent entrants include Arch Reinsurance Europe and Everest Re, and Aon announced plans to create 100 Irish jobs in December.

Obviously, while this recruitment is welcome, the number of new recruits being proposed is hardly astronomical, a trait that is typical of the industry, says Paul Cotter, director of Cotter Personnel.

"There's been a steady flow of roles over the last six months, which has been a welcome pipeline of activity," he says. "It's largely underwriting or compliance positions, as new international firms tend to bring their own senior management, but usually no more than two or three at a time."

Of course, it's not all positive sentiment around the insurance industry. Harford, the US insurance group, has said it will be 're-sizing' it's office in Swords, and Hibernian Aviva saw a 53% drop in sales in its Irish business.

Similarly, HBOS's Irish-based insurance arm, Halifax Insurance Ireland, recorded a €24m loss in 2008, and Irish Life unveiled plans to cull 20 senior staff after its pensions and investments business "had effectively dried up".