The insurance industry plays a vital role within the Irish economy and makes a substantial contribution both socially and economically. The sector employs some 35,000 people in skilled and well-paid jobs and contributes in excess of €2.7 billion annually to the Irish Exchequer. Insurers based in Ireland paid more than €68 billion in claims in 2022 and help to safeguard the financial future of customers through some €300 billion of life and pensions assets.

The insurance sector in Ireland is wide and diverse, and includes insurance companies (underwriters), agents, managing general agents (MGAs), brokers, reinsurers, captive insurers, and Insurtech firms. In addition, the sector is supported by service providers such as captive managers, loss adjusters, specialist software providers and professional services firms. Ireland is also home to a number of back-office service centres, as well as R&D and innovation centres, operated by multinational insurance groups.

In this report we focus primarily on the insurance companies (underwriters) and reinsurance companies based in Ireland and regulated by the Central Bank of Ireland (CBI) and their perspectives on the outlook for the sector. Facts and figures quoted in this report refer to this group unless otherwise noted

Protecting tomorrow: the future of the Irish insurance industry

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