Claims specialists Property and Casualty Services is set to move into the £1 billion Irish insurance market by buying the loss adjusting business, Jim Ivers Liberty Risk Services.
The deal, set to be signed this week, will involve Jim Ivers, head of Dublin-based Liberty, and some of his senior loss adjusters, transferring to PCS's new operation in Ireland.
Ivers and his team are currently recruiting an additional four loss adjusters and will begin operating from offices in Dublin later this month. Another office is planned to open in Cork, in April.
Barry Woodward, chairman of PCS, which had a turnover of £12 million in 1999, said the venture will enable the loss adjuster to benefit from the fast-growing Irish economy.
"The signing of Jim and his three staff, who have the kind of experience we have been looking for, will give PCS an excellent base from which to grow."
Ivers has an established book of clients, including Irish and UK insurers and a number of large corporate accounts and captive insurers.
Ivers said his new enterprise will be aiming for quality contracts: "We have always wanted to be known as the best rather than the biggest," he said.
PCS, which has strong links with Independent Insurance, had been looking for a partner in Ireland for some time.