An Post entered the motor insurance market last week with the creation of an insurance company called One Direct Insurance. Insurance products may be purchased from 1,000 post offices State-wide and through a call centre, which began operation on Wednesday.

The motor insurance product, designed and underwritten by Hibernian Insurance for An Post, focuses on specific segments of the market. It offers full cover to 25- to 74-year-olds and named-driver coverage for 21- to 24-year-olds. Fully-comprehensive and third-party fire and theft is available for cars with up to 2500cc capacity and £35,000 (€44,441) value. Potential policyholders must be accident- and conviction-free for at least three years.

Additional products expected over the next year include: home insurance, life cover, personal loan facilities and pension-related products.