Insurance Ireland has published Factfile 2012, part of an annual series which provides key facts and figures on the domestic and international business of insurers based in Ireland.
The recently published Factfile provides specific statistics in relation to 2012, together with statistics relating to the five-year period 2008-2012.
Some of the key statistics in respect of life and non-life insurance business include the following:
- Combined gross premium income for life and non-life insurance was €10,584 million in 2012, compared to €11,379 million in 2011. This represents a drop of 7%
- Premium income as a percentage of GDP was 6.5%. Premiums per capita decreased by 7% from €2,529 in 2011 and €2,352 in 2012
- Insurance Ireland member companies employed more than 15,000 people in Ireland as at the end of December 2012
- Life assurance members' aggregate domestic premium income was €8,150 million for 2012, a reduction of 4% on 2011
- New annual premium business was €434 million, down 3% from 2011
- €8,996 million in benefits and claims was paid by domestic life assurance companies during 2012, an increase of 3% on 2011
- Total value of life assurance protection in force at the end of 2012 was estimated at €395 billion, compared to €409 billion at the end of 2011. This represents a drop of 3%
- Domestic non-life members of Insurance Ireland write in excess of 95% of Irish non-life insurance business in the established market. In total, members wrote combined gross premiums of €2,434 million in 2012
- Motor insurance represented 39% of all non-life insurance business at €943 million. Property is the second largest class of non-life business (34%)
- Net written premiums were €1,980 million and net earned premiums were €2,014 in 2012
To view Factfile 2012 in full, please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
