We invite you to read our 2022 Annual Report, which can be accessed at the link below.
Intro from Insurance Ireland CEO, Moyagh Murdock:
“2022 was a year which saw the industry and the economy emerge from the after effects of the covid pandemic only to face new and equally unwelcome and unchartered challenges. In what was a very difficult year for consumers, mainly arising out of the impact of the Russia invasion of Ukraine and the general cost of living crisis, one of the few positives has been the continued reduction in the cost of motor insurance which is now at the lowest levels since 2009 as well as an increase in coverage in other areas where previously there was gaps. This is in no short measure as a result of the work done on the agenda for insurance reform and throughout 2022 engaging with the legislators and officials to support the goals of the action plan.
Insurance Ireland engagement with senior members of the Government across the different Ministries and Departments has allowed our teams to build strong communications channels and facilitated very active lobbying and representations on key topics of concern to members.
I was delighted to see the return of physical meetings and events and finally have the opportunity to engage with many of our members in person. The lunch also provided the opportunity to have the official launch of the Insurance Ireland 5-year strategy. The strategic review highlighted the journey Insurance Ireland has been on over the last number of years to further develop the organisation and increase relevance.
Through the new strategy, I will continue to focus the organisation on being an agile representative body focused on advocacy, policy and regulation and set our key priority areas of Competitiveness, Consumer and Culture, and Economic Recovery and Sustainable Economy. These areas will continue to be the key focuses for Insurance Ireland in 2023 and will underpin our work out to 2026. We will keep you updated on progress in 2023.
The strengthening of the lines of communications to the Central Bank was a key focus throughout 2022. At the various Central Bank forums, Insurance Ireland has reiterated the criticality of having a predictable transparent and proportionate regulator to ensure Ireland does not lose its attractiveness for investment and growth by our members and new entrants. We have more work to do on this agenda in 2023 and it will remain a key priority with the new Minister for Finance, Michael McGrath TD and Minister of State, Dr Jennifer Carroll MacNeill TD.
The feedback from our consumer research and stakeholder audits, including from senior figures in Government and the Central Bank highlighted a positive shift in the perception of the industry and the impact of our consumer campaigns throughout 2022. As a result of this, we will branching out into new thematic areas in 2023, all with a view to representing and enabling the development of the industry for its customers, our members, and the broader economy in line with Insurance Ireland’s mission. We will be focussing on pensions awareness, promoting the insurance sector as a great place to work and highlighting the economic contribution the industry makes to the Irish economy amongst others.”
Insurance Ireland Annual Report 2022
Format: pdfFile
Size: 2423736
