Global insurance broker The Ardonagh Group is to open a new Global Data and Risk Management Centre in Mullingar in Co Westmeath, which will create 60 jobs.
The company said the new centre will deliver data-driven insights to Ardonagh's clients worldwide.
It said it will help its more than 7,000 staff worldwide offer tailored solutions from over 100 offices by providing a highly diversified range of financial services-related products and services across the full value chain.
This project is supported by IDA Ireland.
Ardonagh considered many locations worldwide but said it was impressed with the exceptional calibre and quality of its existing teams in the region.
The Westmeath area also stood out for the quality of life the Midlands area offers and the talent of potential employees locally, it added.
David Ross, CEO of The Ardonagh Group, said that after growing up in this area he was aware of the quality of the talent pool in the Midlands.
"I believe this initiative will make it one of the key areas globally for research into risk.
"The group's broad understanding of our clients and their businesses is our key differentiator, and this Data and Risk Management Centre will help us design bespoke solutions that really answer their needs," he added.
Minister of State at the Department of Trade Enterprise and Employment Robert Troy said he was particularly pleased to see a focus on retaining talent in the Westmeath region.
By working with the Athlone Institute of Technology, Robert Troy said that graduates will have greater options to live and work in the Midlands.
"While we have had a difficult 18 months, today's significant announcement is a testament to the quality of talent and opportunities for companies investing in the Midlands," he said.
"It is a positive endorsement for Mullingar and a real sign that brighter days are ahead. The Midlands is not only a great place to live, but also an excellent location for businesses to establish and thrive," he added.
The Minister of State at the Department of Finance with responsibility for Financial Services, Credit Unions and Insurance Sean Fleming said the decision by The Ardonagh Group to locate in Mullingar increases the country's attractiveness as a destination for investment by companies operating within the Financial Services space.
"The decision to locate in Mullingar is further evidence of the benefits of choosing to establish facilities in regional locations. I would like to welcome The Ardonagh Group to Mullingar and I look forward to working with them over the coming years," he added.
IDA Ireland CEO Martin Shanahan said the company's decision to establish the new centre in Mullingar demonstrates the company's confidence in the highly skilled and talented workforce available in the Midlands.
"Winning jobs and investment in regional locations is a key pillar of IDA Ireland's strategy Driving Recovery and Sustainable Growth 2021 - 2024 and today’s announcement by The Ardonagh Group demonstrates the agency’s continued commitment to that pillar," he added.
Last month Arachas, a subsidiary of the Ardonagh Group, agreed a deal to buy Waterford-based Hooper Dolan Limited.
Arachas said the move will significantly extend its nationwide presence and help drive the company's ambitious business expansion.
Hooper Dolan will be integrated into the Arachas business over the coming months.
Hooper Dolan has 12 offices nationwide and employs over 120 people.