Belfast-based Adelaide Insurance Services (AIS) is investing over £5 million towards growth in the Republic of Ireland and Great Britain insurance markets, with support from Invest Northern Ireland.
AIS is aiming to double its sales, workforce and profits by the end of 2011. The insurance broker is a specialist provider of car, home and motorcycle insurance and is a wholly-owned subsidiary of Cornmarket Group Financial Services Limited based in RoI.
AIS markets its products to membership groups including trade unions, advanced driver schemes and teaching associations. The company has been focusing on developing relationships with potential new customers as well as increasing its promotional activities in a bid to boost sales.
The business plans to create a total of 41 new high quality financial services jobs as part of its expansion project, 25 of which are already in place. Invest NI offered AIS £165,000 towards the investment.
Ian Murphy, Invest NI’s Managing Director of Clients Group and Entrepreneurship, said: “This substantial investment underlines the company’s confidence in the specialist skills available in Northern Ireland. AIS’s expansion project will further strengthen the local financial services sector and offer valuable employment opportunities.
“The business has experienced steady growth in recent years and scaling up its operations in Northern Ireland will enable the company to build on this success.”
Sam Geddis, Founder and Director of Adelaide Insurances Services, said: “Our Belfast office has been central in developing a strong competitive position and reputation for AIS throughout the UK and Ireland. Invest NI’s support towards our investment is invaluable and we are delighted with the calibre of candidates we have recruited to date. We have set ourselves firm objectives this year and are on track to achieve these targets.
“Receiving the Business in the Community’s national Big Tick award last month, for our motorcycling and young driver road safety initiative programmes, will further enhance our market presence and help to generate sales. In a growing market, our expansion will enable to us to take full advantage of new opportunities as well as provide a platform for future development.”