Allstate targets UK expansion

Company plans to include legal services and finance as part of its operations

Allstate targets UK expansion

Insurance News

By Paul Lucas

One of the giants of the US insurance sector is looking to make an impact in the UK – with Northern Ireland its target point.

Allstate already has operations in Northern Ireland but now wishes to expand on its existing offering to include both finance and legal services.

Speaking to The Belfast Telegraph, AllState NI managing director John Healy outlined the plans.

“We are looking to see what else we can do for the corporation - opportunities in legal services, the finance and accounting side of things,” he said.

The Londonderry-based company, which employs 2,200 staff across Northern Ireland, also told the publication that it is possible his company benefits from the Brexit vote – although it could go either way.

“Brexit is undoubtedly a big issue for the business community,” he told The Belfast Telegraph. “As a large foreign exporter, the fall in sterling has been advantageous. From a cost perspective, we are 15% cheaper than we were before the vote.

"The medium to long-term concern is the access to talent. If anything happened from an investment perspective that damages that, it would have major impact.

“On the flip side, there may be advantages. If there is a relaxing of visa requirements, we get an element of rationality into that and we might do better.

“I think it would be very beneficial to all businesses in this situation for there to be a statement (on what will happen to EU workers).”

Related Stories:

Major US insurer starts work on huge Ireland office


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