TERAPROOF:User:rorynoonanDate:21/01/2015Time:08:39:42Edition:21/01/2015Wedwedecho210115Page:1
Zone:EE
EE - V1
WEDNESDAY, JANUARY 21, 2015
RRP: e1.50
EDITION NO. 35,801
Serving Cork for 120 years
€6m extension for Glanmire College
Who will be UCC’s next top model?
By AUDREY ELLARD WALSH
A €6 MILLION extension will see Glanmire Community College welcome 120 additional students in 2016. The 3,350m2 development will allow for an overall enrolment of 1,100 students. The new building works, announced yesterday by Cork Education and Training Board will ● Continued on page two.
P10/11
An artist’s impression of the e6m extension for Glanmire College, taking in an extra 120 students in 2016.
Laya to expand in Cork after sale to AIG LAYA Healthcare is set to expand in Cork after being taken over by US insurance firm AIG.
Dónal Clancy: Managing Director of Laya Healthcare.
WEATHER F TONIGHT
L: 1°C Clear intervals; dry
21.01.15 Recommended retail price €1.50
The 500 staff employed by Laya in Little Island will now be part of AIG’s European expansion, according to Managing Director Dónal Clancy. It is believed that the deal is worth €80 million, but a spokesperson for Laya said that this was speculation, and has not been confirmed. It has also been suggested that Laya would move into the home and motor
By DAVID LINNANE
insurance markets. The big winners from today’s announcement will be Aventas, formerly the QUINN group, who owned 70% of Laya’s shares. The remaining 30% were taken in a management led buyout in 2011 by Mr Clancy and deputy managing director D.O. O’Connor. “We have worked incredibly hard to build the business to a position of strength by bringing real innovation to
the health insurance market coupled with affordable health insurance for our members,” said Mr Clancy. Previously, the company traded as Bupa Ireland from 1997 to 2007. The sale will see the departure of shareholder Paul O’Brien, CEO of Aventas, while the management team will be merged into AIG. Mr Clancy assured Laya’s 500,000 members that it will be business as usual for them during the takeover. “This is exceptionally positive news for our almost half a million members, ● Continued on page two.
Plus Cost of childcare impedes women’s careers: See Wow!