Munich Re Automation Solutions is investing up to €16m in an advanced R&D programme and hiring a new team in Dublin.
Today (8 October), Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar, TD, announced a major investment by software company Munich Re Automation Solutions in its R&D programme, Horizons.
The €16m investment in Horizons is supported by the Irish Government through IDA Ireland and will help the company recruit a new team of 60 skilled people over the next two years to complement its existing Dublin workforce.
Munich Re Automation Solutions is a subsidiary of reinsurer Munich Re and provides new business, underwriting and analytics products to the insurance industry.
The Horizons programme will help the company move from a product business to a platform business, with a cloud-native digital platform and business process optimisation that will enable it to scale its customer base from hundreds to thousands.
“This announcement shows that Ireland offers the right conditions – particularly our skilled and talented workforce – to allow companies like Munich Re to undertake advanced and novel research and development here,” Varadkar said.
“I wish Munich Re the very best with this expansion, which will see 60 new jobs based in Dublin. The company has been steadily growing its presence here over the last years and today’s announcement underlines the company’s commitment to Ireland.”
Ross Mayne, CEO of Munich Re Automation Solutions, added this is “an ideal time” for new hires to join the company as it maps out a long-term business plan. “The reimagined business has never been more relevant to our growing base of customers globally.”
IDA Ireland CEO Martin Shanahan said the announcement is “extremely positive news from the financial services industry”, adding to an “already successful insurtech operation” in Ireland.
“It demonstrates a huge vote of confidence in Ireland, our skilled workforce and the collaborative nature and strong commercial focus of our Irish universities,” he said.
Those looking for more information about Munich Re Automation Solutions and its open roles can do so here.