Liberty Information Technology (LIT), the Belfast software development subsidiary of Liberty Mutual Group (LMG) of Boston, is investing over £2.9m to develop new services for its US parent company and embark on further training and development, Leslie Morrison, chief executive, Invest NI, said today.
Invest Northern Ireland is supporting the LIT investment by providing up to £247,000 in financial assistance, towards the creation of 26 new jobs, 16 of which are in place. Training and development assistance of up to £62,140 is also being provided.
Leslie Morrison announced the investment by LMG, a leading global multi-line group of insurance companies, with Gordon Bell, LIT’s Managing Director.
Said Mr Morrison, “This is a significant investment that further secures LIT as the key software centre for the group at a time when other companies are choosing to outsource to third party suppliers, particularly in India and Eastern Europe.
“This further endorsement of LIT by Liberty Mutual adds to Northern Ireland’s international standing as a centre of excellence for software development, and to Belfast’s growing reputation in financial services.”
Mr Bell said: “The overall aim of this investment is to extend the services that we provide to business units throughout the group.”
“It will mean additional software work for our current LMG customers and new projects for units not currently serviced by us. We’ve already secured new business from Liberty International Underwriters, which has offices in the U.S., Canada, Australia, Singapore, France, Germany, England and Ireland. For the first time, we are providing software to LMG business units outside the US.
“The investment is a further demonstration of the confidence which the group has in the quality of the team in Belfast and in our ability to continue to source highly skilled people from local universities.”
Invest NI’s funding is being provided to assist LIT recruit and develop staff. Employment support is provided as the jobs are created.