Insurance in Ireland - Industry Market Research Report

Better insurance: Industry revenue is forecast to rise in 2023, despite economic uncertainty

Insurers' revenue is expected to grow at a compound annual rate of 2.7% over the five years through 2023 to €28.4 billion; this includes an increase of 3.2% in 2023, when the average profit margin is 5.2%. In the life and health segment, life cover volumes are normalising from pandemic highs, but public-private partnerships and inflation boost pricing. Individual annuities make a comeback with rising payouts due to increasing base rates.

Businesses in this industry underwrite policies relating to life, property, casualty, liability and other general risks. The premiums they earn from this are then invested to generate additional income. The underwriting life and disability is a separate industry, although many firms compete in both insurance markets.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.