The year 2008 marks New Ireland’s 90th year in business as a life and pensions provider in Ireland.
Established in 1918, New Ireland was the first Irish-owned life company to operate in Ireland. New Ireland Assurance’s genesis lies in the national resurgence of the 1916 era, and subsequently, its roots are intrinsically nationalistic. In fact, most of the founding members of New Ireland include a number of significant figures within Irish history such as Michael Collins and Eamonn De Valera.
A key objective of the organisation was to keep at home, for the benefit of the nation, vast sums of money that people had been sending abroad for the services of insurance. The organisation was to be spiritually as well as geographically Irish.
One of the earliest principles of New Ireland Assurance was that any income generated by the company would be used to invest solely in the Irish economy. The company would strive to play a role in strengthening and rehabilitating the social, economic and cultural resources of the people of Ireland. Funds were largely invested in industries where native Irish materials were used as well as government and municipal stocks. This practice continued right up until the arrival of Unit Linked funds, as these funds offered greater potential for returns.
New Ireland continues to reside at its headquarters on Dawson Street, a prominent building that the Company has occupied for over 85-years. Today the Company goes from strength to strength, from just £1,000 in assets in 1918 to over €13 billion today.
Commenting on the momentous occasion, Brian Forrester, Managing Director, New Ireland Assurance, comments;
“Our country has changed dramatically in the last 90-years, with few life companies standing the test of time. Our promise to our clients ‘You enjoy today, we look after tomorrow‘ reflects our history, reputation, and solid success in providing meaningful insurance solutions, enabling people to financially prepare and protect their future.
Throughout the years New Ireland has continued to be an industry leader, financially strong and committed to meeting the investment, pension, and life assurance needs of its customers. As we celebrate our 90th birthday, I would like to personally thank all of our clients for their continued business and support.”