Problems at Aviva not reflective of Irish Insurance Industry, says AA

The possibility of significant job losses at Aviva is a serious concern especially for the affected individuals but it is not indicative of problems in the Irish Insurance Industry generally, according to the AA. “Motorists and homeowners do not need to worry.” Says AA Insurance Director John Farrell. “The situation relates to one multi-national company and how it structures its operation in Ireland but it has nothing to do with the general insurance situation in Ireland where businesses like the AA are still actively operating.” The AA is one of Ireland’s largest insurance providers with 200,000 Home, Motor and Travel customers. It has been growing its portfolio and has been reacting to tighter economic times by providing more flexible products and being innovative. “There is ample opportunity for growth in Irish insurance and we have great confidence in the future.” Says Farrell. “Irish consumers do not need to be concerned about issues relating to one particular company. The insurance business has always been cyclical and there is no doubt that these have been tougher years. This is why insurers have to plan on long time horizons and have the right structures in place.” AA Ireland has added 50 new jobs this year across its business and now employs 480 people in Ireland. It has also been making significant investments in its Information Technology and Systems along with fleet investments for its Roadside Rescue service.