Permanent TSB Group Holdings plc, formerly Irish Life and Permanent plc is a provider of personal financial services in Ireland. Irish Life Assurance plc and the Irish Permanent Building Society merged to form the Irish Life and Permanent Group in 1999 and the merged entity acquired the Trustee Savings Bank in 2001. The group has no connection to the UK's TSB Bank. History The bank is historically derived from three different companies: Irish Life Assurance Irish Permanent Building Society Trustee Savings Bank (no relation to the British bank of the same name) Irish Life Assurance plc (founded 1939) and the Irish Permanent Building Society (founded 1884) merged to form the Irish Life and Permanent Group in 1999 and the merged entity acquired the Trustee Savings Bank (founded 1816) in 2001. Irish Life Assurance Irish Life was a life assurance company created in 1939 with state assistance and concentrated on life assurance and investment products. The City of Dublin Assurance Company, Limited; the Irish Life and General Assurance Company, Limited; the Irish National Assurance Company, Limited; and the Munster and Leinster Assurance Company, Limited were amalgamated. Later some British companies shed their Irish operations, and merged them into this new company. They were: the Prudential, the Britannic, the Liverpool Victoria Friendly Society, the Pearl, and the Refuge. Shares in the business were sold to the public in July 1991. In 1965 Irish Life entered the UK market and competed against its former parent, initially under its own name. In 1999, Irish Life Assurance plc and the Irish Permanent Building Society merged to form the Irish Life and Permanent Group. In March 2012, Irish Life Assurance was sold to the Irish State for €1.3 billion as part of a bank recapitalisation programme following the Irish financial crisis. Irish Permanent Building Society Permanent TSB, previously the Irish Permanent Building Society, was founded as The Irish Temperance Permanent Benefit Building Society which was founded in 1884. In 1940 under new managing director Edmund Farrell its name was changed to Irish Permanent Building Society. Farrell, and later his son, Edmund Farrell Jnr managed the building society until about 1990. In 1992 Irish Permanent Finance, specialising in auto finance, was established. In 1992 branch operations were opened in London and Belfast. In 1992 a Banking subsidiary established in the Isle of Man. In 1994 the Irish private banking operation of Guinness & Mahon was acquired. In