Ireland Insurance Industry – Key Trends and Opportunities to 2025
The Ireland insurance market size was valued at $27.32 billion in 2021. The market is expected to grow at a CAGR of more than 7% during 2020-2025. Due to Coronavirus (COVID-19), Irish insurance slowed its growth at a rate in 2020, compared to the rate in 2019.
The Ireland insurance market research report provides a detailed outlook by product category for the Ireland insurance industry. It provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period. The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Ireland economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together GlobalData’s research, modeling, and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
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What are the key Ireland insurance market trends?
The Central Bank of Ireland created a regulatory framework for life and general insurers in August 2020, to provide relief to consumers affected by the considerable economic disruption due to COVID-19. As per the revised regulations, claims can be filed if a business was forced to close, owing to a government directive caused by a dangerous or infectious disease. These developments are expected to fuel Ireland insurance market growth during the forecast period.
What are the key segments in the Ireland insurance market?
The key segments in the Ireland insurance market are life insurance and general insurance. In terms of gross written premiums life insurance has the highest share, followed by general insurance in 2020.
Ireland insurance market, by segment
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Who are the leading life insurance companies in the Ireland insurance market?
The leading life insurance companies in the Ireland insurance market are Irish Life Assurance Plc, Zurich Life Assurance Plc, New Ireland Assurance Company Plc, Avia Life & Pension Ireland Dac, Standard Life International Designated Activity Company.
Ireland life insurance market, by competitors
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Who are the leading general insurance companies in the Ireland insurance market?
The leading general insurance companies in the Ireland insurance market are VHI Insurance DAC, AXA Insurance DAC, XL Insurance Company SE(Ireland), Allianz p.l.c, Irish Life Health Designated Activity Company, Avia Insurance Ireland Designated Activity Company, Zurich Insurance Plc, FBD Insurance PLc, RSA Insurance Ireland Dac, and IPB Insurance CLG.
Ireland general insurance market, by competitors
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Market report overview
| Market size 2021 | $27.32 billion |
| CAGR % (2020-2025) | >7% |
| Key Segments | Life Insurance and General Insurance |
| Key Life Insurance Competitors | Irish Life Assurance Plc, Zurich Life Assurance Plc, New Ireland Assurance Company Plc, Avia Life & Pension Ireland Dac, Standard Life International Designated Activity Company |
| Key General Insurance Competitors | VHI Insurance DAC, AXA Insurance DAC, XL Insurance Company SE(Ireland), Allianz p.l.c, Irish Life Health Designated Activity Company, Avia Insurance Ireland Designated Activity Company, Zurich Insurance Plc, FBD Insurance PLc, RSA Insurance Ireland Dac, and IPB Insurance CLG |
Scope
This report provides a comprehensive analysis of the Ireland insurance industry –
- It provides historical values for the Ireland insurance industry for the report’s review period, and projected figures for the forecast period.
- It offers a detailed analysis of the key categories in the Ireland insurance industry, and market forecasts to 2025.
- It profiles the top life insurance companies in Ireland and outlines the key regulations affecting them.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Ireland insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Ireland insurance industry.
- Assess the competitive dynamics in the Ireland insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Key Players
Table of Contents
Frequently Asked Questions
The insurance market size in Ireland was $27.32 billion in 2021.
The insurance market in Ireland is expected to grow at a CAGR of more than 7% during the period 2020-2025.
The key segments in the Ireland insurance market are life insurance and general insurance.
The leading life insurance companies in the Ireland insurance market are Irish Life Assurance Plc, Zurich Life Assurance Plc, New Ireland Assurance Company Plc, Avia Life & Pension Ireland Dac, Standard Life International Designated Activity Company.
The leading general insurance companies in the Ireland insurance market are VHI Insurance DAC, AXA Insurance DAC, XL Insurance Company SE(Ireland), Allianz p.l.c, Irish Life Health Designated Activity Company, Avia Insurance Ireland Designated Activity Company, Zurich Insurance Plc, FBD Insurance PLc, RSA Insurance Ireland Dac, and IPB Insurance CLG.
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