90 jobs to go as Galway insurance firm closes

A Galway-based insurance company is to close with the loss of 90 full-time jobs, it was announced tonight.

Inter Group Insurance Services, part of the Royal Bank of Scotland group said it would close within the next seven months.

Head of the company Bob Andrews said the closure was due to a “fundamental shift in the insurance outsourcing market in the last few years”.

“Major clients of Inter Group Insurance Services have recently taken their travel insurance business back in-house and sadly we have no alternative but to make this announcement today. We explored every possible avenue before reaching this unfortunate decision,” Mr Andrews said.

He said all employees affected will be invited to apply for “alternative roles” within the group and that discussions will take place on redundancy and the closure.

The company is a third-party administrator for travel insurance policies, mainly for the UK market.