Liberty Insurance, a major sponsor of the GAA and Camogie Association, as well as Sport for Business’ partner in Women’s Sport has announced a likely return to a ‘good’ profit in 2017.
Senior international management have been in Ireland over recent days and issued a summary of where the business is yesterday.
Speaking in the Irish Times today Head of International Business Luis Bonnell said “We thought the company had better capabilities at the beginning and we thought there was an opportunity for us to grow at the beginning. This is part of what didn’t work. We tried to grow when our capabilities were weak in a market that was declining and was having problems of profitability.”
“We have invested in our internal capabilities. We feel much better in terms of our claims processes, much better in terms of our technology, in terms of our data analysis, in terms of our pricing models and these types of things.”
The company made 285 redundancies in 2015 and the cost of these means that a return to profit will be delayed until 2017. That would be timely given it will be the fifth year of an initial five year deal signed back in 2013 which broke new ground in terms of combining sponsorship of the All Ireland Hurling and Camogie Championships.
The company has activated the deal well with a focus on supporting a variety of Women’s sport initiatives, appropriate given insurance buying patterns, as well as this months Liberty Insurance GAA Coaching Conference. GAA members also receive special deals on motor insurance where Liberty currently has an eight per cent market share in Ireland.
