Liberty Insurance has announced a first full year profit of €16 million, driven mostly by investment returns on Irish Government Bonds.
The insurer came on board last week as the five year headline sponsors of the All Ireland Hurling and Camogie Championships and hopes that sporting connection will help it towards break even on the underwriting side of its business over the course of 2013.
Sport could play a very granular role in that profit if moves within the UK are replicated here.
Liberty Mutual, a sister company, has signed up to be the official insurance partner of nine Cricket Test Match venues in England including Lords, Edgbaston and Old Trafford where England will play test matches this year against New Zealand and Australia for the Invested sponsored Ashes series.
That deal will see a revenue stream for the business partially offset in cost terms for the sport by the branding assets given over to Liberty Mutual in high profile matches that generate television coverage that will help to grow the brand.
Insurance is one of the single largest fixed costs in the running of any sporting organisation.
Even if the relationship between the GAA and Liberty were just to start with the insuring of the major county grounds around the country, that alone could provide an important ‘back’ revenue stream for Liberty and an additional tie to build the relationship between the sports and the business over the years to come.
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