The Irish Life and Permanent is a financial institution in the Republic of Ireland created in 1999. The company is historically derived from two different companies, Irish Life and Irish Permanent. Irish Life was a life assurance company created in 1939 by the state and concentrates on insurance and investment products. Irish Permanent was a predominately personal banking and mortgage company which currently does business in the name of Permanent TSB because of the 2001 Trustee Savings Bank acquisition from the Government of Ireland, Permanent TSB is a member of the Laser payment system. Additionally their are other companies which are part of the group in similar financial areas.