Insurance Ireland, the voice of Insurance in Ireland represents 95% of the domestic insurance and 80% of the international Life Insurance market. Insurance Ireland members pay out more than €5.4 billion in claims each year to Irish customers and contribute over €1.8 billion in tax to the Irish exchequer per annum. The Insurance Industry holds €200 billion of assets, of which €46 billion is invested in Ireland. €35 billion of this is invested in Irish infrastructure, with €16 billion thereof invested in Irish government debt and €19 billion thereof in Irish companies and property.
The industry generates €25 billion in premium income (domestic and overseas) and employs more than 28,000 people. Insurance makes a major contribution to Ireland’s economic growth and development and is a cornerstone of modern life. One of the most important aspects of insurance is to pay claims to customers at times when they need it most.