A private health insurance company which took over the business of Quinn Healthcare is to create 100 new jobs over the next three years.

The former Quinn company has been relaunched as Laya Healthcare and it already employs more than 340 people at little Island in Co Cork.

Laya healthcare's policies are underwritten by Elips Insurance, a wholly owned subsidiary of Swiss Re.

The new company was formed following a management-led buy out of Quinn Healthcare in December last year, Ireland’s second largest health insurance provider.

The management team behind the buyout has huge experience in the healthcare industry, both in Ireland and internationally.

Laya says it plans to grow its market share as well as offer new insurance products. The 100 additional people being recruited will fill positions in sales, customer service and claims.