The signing of the deal, which comes just a few days before Ireland's Six Nations showdown against England, sees the country's third-largest financial services company invest EUR5million ($5.3m) to remain the team's primary sponsor.
The sponsorship agreement, under which the Ireland team's jerseys are adorned with the name of the company's Permanent TSB retail banking division, will run from May this year until May 2006.
Irish Life & Permanent, which bought TSB Bank from the Irish government for EUR430m ($458m) in 2001 to expand in its home market, has sponsored the Irish team since 1993.
Irish Life has spent about EUR2m on sponsorship of the team and related marketing over the last four years.
Commented Irish Life chairman Roy Douglas: "We see our continued linkage with the Irish national team as a critical part of our marketing strategy for Permanent TSB in the years to come."
Financial services firm Irish Life & Permanent has renewed its sponsorship of the Irish national rugby union team.
