CANADA Life is about to hire another 100 staff at its new offices in Dublin, and is also on the look out for acquisition opportunities, the assurance company said yesterday. Since 1991, the company has increased its Irish market share to 7 per cent from 1.4 per cent, and currently has Pounds 800 million in assets in the Republic.

At the official opening of the new building yesterday, the company's managing director for Ireland, Mr Don Gallagher, said three direct sales offices would be at the location. This would mean better internal co- ordination as well as a higher level of customer care, he added.

"Due to our current expansion, I foresee an imminent increase in our full-time staff requirements by 100 new people, bringing the total number of people directly employed to over 400," Mr Gallagher said.

"Our current Irish market share of 7 per cent will also grow both by acquisition and by a sustained focus on our high level of customer care and appropriate products in protection, pensions and investments," he added.

Mr Gallagher said he had been "in discussions" in recent months with two players in the life assurance business with less than a 5 per cent share of the market, and would continue to seek buy-out opportunities with smaller companies where there is sufficient synergy".

He also stressed organic growth, pointing to the commitment made by the company in opening its new, state-of-the-art office. The building, on Dublin's Upper Baggot Street, features a running track on its roof.

Canada Life was founded 150 years ago and now has worldwide assets of Pounds 14 billion. Its Irish business has some 135,000 policy holders.