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
2010		Irish Life & Permanent Group Holdings plc formed, becomes listed holding company and parent of the Group
2008		Acquisition of remaining 50% stake in Joint Mortgage Holdings No. 1 Ltd (parent of Springboard Mortgages Ltd) from Merrill Lynch Acquisition of remaining 25% of Cornmarket Group Financial Services Ltd
2007		Springboard Mortgages, joint venture mortgage lender, established by Irish Life & Permanent and Merrill Lynch.
2005		Disposal of City of Westminster Assurance plc (CWA) to Chesnara plc.
2004		Disposal of Irish Estates Management Ltd (IEM) to a group of private and institutional investors.
2003		Disposal of remaining US business, Guarantee Reserve, to Swiss Re.
2002		Integration of Irish Permanent and TSB operations and launch of permanent tsb, the group’s re-branded retail banking operation. Disposal of Industrial Branch (Home Service) life assurance business to Royal Liver. Share buy-back programme, totalling €300 million over three years, completed.
2001		Acquisition of TSB Bank from Irish government. Commencement of exit from US with sale of Interstate and First Variable to Protective Life.
1999		Merger of Irish Life plc and Irish Permanent plc in April. Disposal of interests in joint ventures with Kredietbank in Ireland and Hungary. Acquisition of Cornmarket Financial Services Group.

	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.

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	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.

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