The insurance industry plays a vital role within the Irish economy and makes a substantial contribution both socially and economically. The sector employs over 43,000 people in skilled and well-paid jobs and contributes €3.0 billion annually to the Irish Exchequer. Insurers based in Ireland paid €74 billion in claims in 2024 (up from €68 billion in 2023) and help to safeguard the financial future of customers through the management of over €300 billion of policyholder 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 perspectives of insurance companies (underwriters) and reinsurance companies based in Ireland and regulated by the Central Bank of Ireland (CBI). Facts and figures quoted in this report refer to this group unless otherwise noted.

Resilience Revitalisation – Milliman Insurance Ireland Report