Central Bank approval for new insurer
The Central Bank has granted South African insurance group OUTsurance a licence to operate in Ireland.
The group, founded in 1998, has operations in South Africa and Australia, and is listed on the Johannesburg Stock Exchange.
It plans to launch its operations in Ireland later this year, focusing on home and motor insurance.
‘New choice’
Jennifer Carroll MacNeill, the minister responsible for insurance, has welcomed the development.
“OUTsurance entering the Irish market is good news for Irish consumers. Later this year, everyone will have a new choice of insurer to explore when taking out home or motor insurance,” she said.