Munich Re to create skilled jobs in Ireland with €16m investment

Munich Re plans to invest up to €16 million in a research & development programme backed by the Irish Government, while creating a number of jobs for highly-skilled workers.

Dublin-based Munich Re Automation Solutions and Leo Varadkar, Tánaiste and Minister for Enterprise, Trade and Employment, will jointly invest in Horizons, an innovative R&D programme and transform it into a platform company.

The investment is supported by the Irish Government through IDA Ireland.

The business will recruit a large new team of skilled people in Dublin to help accelerate the development of new cloud products and services.

Munich Re plans to fill up to 60 positions over the coming 24 months.

“This is an ideal time to join our team, as we map our technology to our long-term business plan,” said Ross Mayne, CEO at Munich Re Automation Solutions. “The re-imagined business has never been more relevant to our growing base of customers globally, and the way we are executing shows the winning mentality, expanding commitment to our customers, and strong culture of Munich Re.”

Thomas Blunck, member of the executive board of management at Munich Re, added: “At Munich Re, our goal is to pioneer digital solutions for the insurance industry. Munich Re Automation Solutions has demonstrated it can make a real difference to our clients’ businesses, understanding their needs, winning customer insights, and empowering them to become recognised as digital leaders within their individual markets.”

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. 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.”

Martin Shanahan, chief executive of IDA Ireland, commented: “This is extremely positive news from the financial services industry in Ireland. Munich Re is an organisation that we have worked with since 2012 and we are delighted that, off the back of an already successful InsurTech operation in the country, Munich Re has decided to carry out this exciting R&D programme here, underpinning 60 high value roles.

“It demonstrates a huge vote of confidence in Ireland, our skilled workforce and the collaborative nature and strong commercial focus of our Irish universities. I wish Munich Re continued success with their Irish operations and assure them of IDA Ireland’s ongoing support.”