History and development

Irish Life & Permanent was formed in 1999 from the merger of Irish Life and Irish Permanent. TSB bank joined the group in 2001.

To view a brief snap-shot of our Group history click on the image below to enlarge.

Irish Life & Permanent

• Irish Permanent

• 1996	Capital Home Loans, a centralised mortgage lender in the UK, acquired.
  1994	Public flotation of Irish Permanent plc on Dublin and London Stock Exchanges in October. Society de-mutualised and converted to public company. Prudential Life of Ireland acquired. Renamed Progressive Life. The Irish private banking operation of Guinness & Mahon acquired.
  1992	Irish Permanent Finance, specialising in auto finance, established. Branch operations commenced in London and Belfast. Banking subsidiary established in Isle of Man.
  1989	Building Societies Act allowed societies to expand services offered.
  1940	Name changed to Irish Permanent Building Society.
  1884	Irish Temperance Permanent Benefit Building Society established.

• Irish Life

• 1997	Wind up of Xaar, the group’s general insurance business, in France. Acquisition, in partnership with Kredietbank, of minority stake in Kereskedelmi es Hitelbank Rt. (Hungary). Acquisition of Guarantee Reserve, a funeral expense life business in US.
  1996	UK life operations closed to new business.
  1994	Entry into US variable life market with acquisition of First Variable. Sale of Norwegian subsidiary, DAVID.
  1993	Acquired City of Westminster Assurance, consisting of a closed book of life business in the UK.
  1992	Established general insurance business in France through subsidiary, Xaar.
  1991	Public flotation of Irish Life plc on Dublin and London Stock Exchanges in July.
  1990	Norwegian life assurance company DAVID acquired. Group restructured with creating of holding company, Irish Life plc.
  1989	Joint venture with Irish Intercontinental Bank (subsidiary of Kredietbank) in mortgage lending.
  1988	Operations in US commence with acquisition of Interstate Assurance Company.
  1982	Controlling interest in Church & General, a general insurance company, acquired. Interest subsequently diluted and Allianz now majority shareholder.
  1979	Irish Life Building Society established.
  1965	UK branch operation commenced.
  1964	Irish Life introduced the first unit-linked policy in Ireland.
  1947	Restructuring and purchase by Minister of Finance of shares held by British life assurance companies resulting in a government holding of 90.25%.
  1939	Irish Life Assurance incorporated, as part of the amalgamation of nine British and Irish life assurance companies. The Minister for Finance held 18% of the shares of the company.