British pensions and investments company Legal & General is creating 20 jobs with the opening of a subsidiary in Dublin which will sell investment products into the UK and Europe, writes Simon Carswell, Finance Correspondent.

A further 20 jobs will be created at Irish Progressive Services International, an administration firm owned by Irish Life & Permanent, which will provide services to Legal & General in Dublin.

David Fagan, chief executive of the new Irish subsidiary, Legal & General International (Ireland), said it was a specialist cross-border life assurance company which would focus on selling lump-sum life assurance investment products into the UK from Dublin in 2008.

He added that the EU life directive would allow Legal & General to sell its investment products into Europe from its Irish base.