Liberty Mutual Insurance Group is to create 150 jobs over the next two years at its office in Blanchardstown in Dublin.
The jobs will see an expansion of the company's IT operation, which currently employs over 350 people in Belfast.
The new positions bring the company's total workforce on the island of Ireland to over 1,500.
Liberty Mutual also said it had bought the remaining 49% of Liberty Mutual Ireland Investment Holdings from Tutelana, a wholly owned subsidiary of IBRC.
The company did not disclose financial terms of the deal.
Liberty bought Quinn Insurance in 2011 from the company's administrators.
The company's IT operations specialise in enterprise level software engineering support for the company's worldwide operations.
The new jobs in Dublin will support the setting up of an IT help desk, a security operations centre and a software engineering unit.
Chairman and chief executive David H Long said the announcement highlighted "Liberty Mutual's commitment to Ireland and the country's talented workforce".
The Department of Jobs, Enterprise and Innovation is supporting the new jobs through IDA Ireland.
Minister Richard Bruton met senior executives from the company as part of an IDA investment mission to the US earlier this year.
He said the jobs announcement is "a further boost for the sector and for the economy".
Liberty Insurance provides car and home insurance to the Irish and UK markets along with commercial insurance to the business sector in Ireland.
The company is part of the Boston-based Liberty Mutual Insurance Group.