Life Insurance in Ireland, Key Trends and Opportunities to 2017

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Date: 28-Jan-2014
No. of pages: 226
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Synopsis

The report provides in-depth market analysis, information and insights into the Irish life insurance segment, including:

  • The Irish life insurance segment’s growth prospects by life insurance categories
  • Key trends and drivers for the life insurance segment
  • The various distribution channels in the Irish life insurance segment
  • The detailed competitive landscape in the life insurance segment in Ireland
  • Regulatory policies in the Irish insurance industry
  • A description of the life reinsurance segment in Ireland
  • Porter’s Five Forces analysis of the life insurance segment
  • A benchmarking section on the Irish life insurance segment in comparison with other countries with US$10–US$40 billion in gross written premium

Summary

The Irish life insurance segment showed signs of recovery and grew by 2.83% in 2012 compared to the previous year. The recovery was due to increases in pension and retirement products, and regulatory upgrades aimed at dealing with the financial crises faced by the country. Insurers also had to prepare for the implementation of Solvency II. The life segment also leads the Irish insurance industry, accounting for 83.2% of the total gross written premiums in 2012. The Irish life segment is highly concentrated with the 10 leading companies accounting for 98.2% of the total segment’s written premiums. Insurance brokers led the Irish life segment in terms of distribution during the review period, and accounted for 46.1% of new written premium business in 2012.

Factors such as reforms in pension law, insurers’ efforts to reduce costs and enhance efficiency in terms of writing new business along with product innovations are all expected to drive growth in the Irish life insurance segment over the forecast period (2012–2017).

Scope

This report provides a comprehensive analysis of the life insurance segment in Ireland:

  • It provides historical values for the Irish life insurance segment for the report’s 2008–2012 review period and expected figures for the 2012–2017 forecast period.
  • It offers a detailed analysis of the key categories in the Irish life insurance segment, along with market forecasts until 2017.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for life insurance products in Ireland.
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Ireland for the life insurance business.
  • It provides a detailed analysis of the reinsurance segment in Ireland and its growth prospects.
  • It profiles the top life insurance companies in Ireland and outlines the key regulations affecting them.

Reasons To Buy

  • Make strategic business decisions using in depth historic and forecast market data related to the Irish life insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Irish life insurance segment
  • Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Irish insurance industry and its impact on companies and the market’s future

Key Highlights

  • The Irish life insurance segment showed signs of recovery and grew by 2.83% in 2012 compared to the previous year. The recovery was due to increases in pension and retirement products, and regulatory upgrades aimed at dealing with the financial crises faced by the country.
  • Over 50 life insurance products such as life term cover, mortgage cover, pension life cover, income protector policies and annuities products are likely to be affected by the implementation of the gender-neutral policy.
  • Since January 2011, the Central Bank of Ireland has implemented a number of regulatory changes to support growth in the insurance industry, including the Corporate Governance Code for Credit Institutions and Insurance Undertakings, the Fitness and Probity Regime, the Minimum Competency Code and the Consumer Protection Code.
  • The low investment return, which was primarily due to persistent low interest rates prevailing in the economy, is expected to reduce insurer returns and profits over the forecast period.
  • Falling demand for mortgage-related life insurance products, as a result of the decline in the housing market, and shrinking demand for general annuity products further contributed to the decline of the segment.

Life Insurance in Ireland, Key Trends and Opportunities to 2017

Table of Contents

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Regional Market Dynamics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size

4 Life Insurance Segment – Regional Benchmarking
4.1 Scale and Penetration
4.1.1 Total gross written premium
4.1.2 Premium per capita
4.1.3 Life insurance penetration
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
4.4 Distribution Channels
4.4.1 Direct marketing
4.4.2 Insurance brokers
4.4.3 Bancassurance
4.4.4 Agencies

5 Irish Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008–2017
5.2 Key Industry Trends and Drivers

6 Life Insurance Outlook
6.1 Life Insurance Growth Prospects by Category
6.1.1 Individual life insurance
6.1.2 Individual pension insurance
6.2 Life Insurance Growth Prospects by Product Type
6.2.1 Individual single-premium policies
6.2.2 Individual non-single-premium policies

7 Analysis by Distribution Channel
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-commerce
7.5 Brokers

8 Porter’s Five Forces Analysis – Irish Life Insurance
8.1 Bargaining Power of Suppliers: Low to Medium
8.2 Bargaining Power of Buyers: Medium to High
8.3 Barriers to Entry: Low to Medium
8.4 Intensity of Rivalry: High
8.5 Threat of Substitutes: Low

9 Reinsurance Growth Dynamics and Challenges
9.1 Reinsurance Segment Size, 2008–2017
9.2 Reinsurance Segment Size by Type of Insurance, 2008–2017

10 Governance, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation and Market Practice by Type of Insurance
10.2.1 Life insurance
10.2.2 Property insurance
10.2.3 Motor insurance
10.2.4 Marine, aviation and transit insurance
10.2.5 Personal accident and health insurance
10.3 Compulsory Insurance
10.3.1 Motor third-party liability insurance
10.3.2 Air carriers and aircraft operators insurance
10.3.3 Social security insurance
10.4 Supervision and Control
10.4.1 International Association of Insurance Supervisors
10.4.2 European Insurance and Occupational Pensions Authority
10.4.3 Central Bank of Ireland
10.5 Non-Admitted Insurance Regulations
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market practices
10.5.4 Fines and penalties
10.6 Company Registration and Operations
10.6.1 Types of insurance organization
10.6.2 Establishing a local company
10.6.3 Foreign ownership
10.6.4 Types of license
10.6.5 Capital requirements
10.6.6 Solvency margins
10.6.7 Reserve requirements
10.6.8 Investment regulations
10.6.9 Statutory return requirements
10.6.10 Fee structure
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Withholding taxes on premium paid overseas
10.7.3 Corporate tax
10.7.4 VAT
10.7.5 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to court
10.8.3 Alternative dispute resolution (ADR)

11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Irish Life Insurance Segment
11.3 Comparison of the Top Five Insurers
11.3.1 Gross written premium
11.3.2 Gross claims
11.3.3 Total assets
11.4 Irish Life Assurance – Company Overview
11.4.1 Irish Life Assurance – key facts
11.4.1 Irish Life Assurance – key financials
11.5 New Ireland Assurance Company – Company Overview
11.5.1 New Ireland Assurance Company – key facts
11.5.2 New Ireland Assurance Company – key financials
11.6 Zurich Life Assurance – Company Overview
11.6.1 Zurich Life Assurance – key facts
11.6.2 Zurich Life Assurance – key financials
11.7 Standard Life Assurance Ltd – Company Overview
11.7.1 Standard Life Assurance Ltd – key facts
11.7.2 Standard Life Assurance Ltd – key financials
11.8 Aviva Life and Pension Ireland – Company Overview
11.8.1 Aviva Life and Pension – key facts
11.8.2 Aviva Life and Pension – key financials
11.9 Canada Life – Company Overview
11.9.1 Canada Life – key facts
11.9.2 Canada Life – key financials
11.1 Friends First Managed Pension Funds Ltd – Company Overview
11.10.1 Friends First Managed Pension Funds Ltd – key facts
11.10.2 Friends First Managed Pension Funds Ltd – key financials
11.11 Ark Life Assurance Company Ltd – Company Overview
11.11.1 Ark Life Assurance Company Ltd – key facts
11.11.2 Ark Life Assurance Company Ltd – key financials
11.12 Friends' First Life Assurance Company – Company Overview
11.12.1 Friends' First Life Assurance Company – key facts
11.12.2 Friends' First Life Assurance Company – key financials
11.13 The Royal London Mutual Insurance Society Ltd – Company Overview
11.13.1 The Royal London Mutual Insurance Society Ltd – key facts
11.13.2 The Royal London Mutual Insurance Society Ltd – key financials

12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend – Irish Stock Exchange, Ireland
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 GDP by key segments
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
12.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
12.2.8 Manufacturing net output at current prices (US$)
12.2.9 Manufacturing net output at current prices as a percentage of GDP
12.2.10 Mining, manufacturing and utilities at current prices (US$)
12.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
12.2.12 Construction net output at current prices, (US$)
12.2.13 Construction net output at current prices as a percentage of GDP
12.2.14 Inflation rate
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Merchandise exports growth
12.2.18 Merchandise imports growth
12.2.19 Annual average exchange rate EUR–US$
12.3 Infrastructure
12.3.1 Commercial vehicles exports – total value
12.3.2 Commercial vehicles imports – total value
12.3.3 Automotive exports – total value
12.3.4 Automotive imports – total value
12.3.5 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Gross national disposable income (US$)
12.5.2 Household consumption expenditure (US$)
12.5.3 Total population
12.5.4 Urban and rural populations
12.5.5 Age distribution of the total population

13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric’s Services
13.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions
Table 2: Irish Insurance – Overall Written Premium by Segment (EUR Billion), 2008–2012
Table 3: Irish Insurance – Overall Written Premium by Segment (US$ Billion), 2008–2012
Table 4: Irish Insurance – Overall Written Premium by Segment (EUR Billion), 2012–2017
Table 5: Irish Insurance – Overall Written Premium by Segment (US$ Billion), 2012–2017
Table 6: Irish Insurance – Segmentation (% Share), 2008–2017
Table 7: Irish Life Insurance – Written Premium by Category (EUR Billion), 2008–2012
Table 8: Irish Life Insurance – Written Premium by Category (US$ Billion), 2008–2012
Table 9: Irish Life Insurance – Written Premium by Category (EUR Billion), 2012–2017
Table 10: Irish Life Insurance – Written Premium by Category (US$ Billion), 2012–2017
Table 11: Irish Life Insurance – Earned Premium (EUR Billion), 2008–2012
Table 12: Irish Life Insurance – Earned Premium (EUR Billion), 2012–2017
Table 13: Irish Life Insurance – Sum Assured (EUR Billion), 2008–2012
Table 14: Irish Life Insurance – Sum Assured (EUR Billion), 2012–2017
Table 15: Irish Life Insurance – Paid Claims (EUR Billion), 2008–2012
Table 16: Irish Life Insurance – Paid Claims (EUR Billion), 2012–2017
Table 17: Irish Life Insurance – Incurred Loss (EUR Billion), 2008–2012
Table 18: Irish Life Insurance – Incurred Loss (EUR Billion), 2012–2017
Table 19: Irish Life Insurance – Loss Ratio (%), 2008–2012
Table 20: Irish Life Insurance – Loss Ratio (%), 2012–2017
Table 21: Irish Life Insurance – Commissions and Expenses (EUR Billion), 2008–2012
Table 22: Irish Life Insurance – Commissions and Expenses (EUR Billion), 2012–2017
Table 23: Irish Life Insurance – Combined Ratio (%), 2008–2012
Table 24: Irish Life Insurance – Combined Ratio (%), 2012–2017
Table 25: Irish Life Insurance – Frauds and Crimes (EUR Million), 2008–2012
Table 26: Irish Life Insurance – Frauds and Crimes (EUR Million), 2012–2017
Table 27: Irish Life Insurance – Total Assets (EUR Billion), 2008–2012
Table 28: Irish Life Insurance – Total Assets (EUR Billion), 2012–2017
Table 29: Irish Life Insurance – Total Investment Income (EUR Billion), 2008–2012
Table 30: Irish Life Insurance – Total Investment Income (EUR Billion), 2012–2017
Table 31: Irish Life Insurance – Retentions (EUR Billion), 2008–2012
Table 32: Irish Life Insurance – Retentions (EUR Billion), 2012–2017
Table 33: Irish Individual Life Insurance – Number of Active Policies (Million), 2008–2012
Table 34: Irish Individual Life Insurance – Number of Active Policies (Million), 2012–2017
Table 35: Irish Individual Life Insurance – Written Premium (EUR Billion), 2008–2012
Table 36: Irish Individual Life Insurance – Written Premium (EUR Billion), 2012–2017
Table 37: Irish Individual Pension Insurance – Number of Active Policies (Million), 2008–2012
Table 38: Irish Individual Pension Insurance – Number of Active Policies (Million), 2012–2017
Table 39: Irish Individual Pension Insurance – Written Premium (EUR Billion), 2008–2012
Table 40: Irish Individual Pension Insurance – Written Premium (EUR Billion), 2012–2017
Table 41: Irish Individual Single-Premium Insurance – Number of Active Policies (Million), 2008–2012
Table 42: Irish Individual Single-Premium Insurance – Number of Active Policies (Million), 2012–2017
Table 43: Irish Individual Single-Premium Insurance – Written Premium (EUR Billion), 2008–2012
Table 44: Irish Individual Single-Premium Insurance – Written Premium (EUR Billion), 2012–2017
Table 45: Irish Individual Non-Single-Premium Insurance – Number of Active Policies (Million), 2008–2012
Table 46: Irish Individual Non-Single-Premium Insurance – Number of Active Policies (Million), 2012–2017
Table 47: Irish Individual Non-Single-Premium Insurance – Written Premium (EUR Billion), 2008–2012
Table 48: Irish Individual Non-Single-Premium Insurance – Written Premium (EUR Billion), 2012–2017
Table 49: Irish Life Insurance – Direct Marketing Commission Paid (EUR Billion), 2008–2012
Table 50: Irish Life Insurance – Direct Marketing Commission Paid (EUR Billion), 2012–2017
Table 51: Irish Life Insurance – New Business Written Premium Through Direct Marketing (EUR Billion), 2008–2012
Table 52: Irish Life Insurance – New Business Written Premium Through Direct Marketing (EUR Billion), 2012–2017
Table 53: Irish Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2008–2012
Table 54: Irish Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2012–2017
Table 55: Irish Life Insurance – Number of Direct Marketing Distributors, 2008–2012
Table 56: Irish Life Insurance – Number of Direct Marketing Distributors, 2012–2017
Table 57: Irish Life Insurance – Bancassurance Commission Paid (EUR Billion), 2008–2012
Table 58: Irish Life Insurance – Bancassurance Commission Paid (EUR Billion), 2012–2017
Table 59: Irish Life Insurance – New Business Written Premium Through Bancassurance (EUR Billion), 2008–2012
Table 60: Irish Life Insurance – New Business Written Premium Through Bancassurance (EUR Billion), 2012–2017
Table 61: Irish Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2008–2012
Table 62: Irish Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2012–2017
Table 63: Irish Life Insurance – Number of Bancassurance Distributors, 2008–2012
Table 64: Irish Life Insurance – Number of Bancassurance Distributors, 2012–2017
Table 65: Irish Life Insurance – Commission Paid to Agencies (EUR Billion), 2008–2012
Table 66: Irish Life Insurance – Commission Paid to Agencies (EUR Billion), 2012–2017
Table 67: Irish Life Insurance – New Business Written Premium Through Agencies (EUR Billion), 2008–2012
Table 68: Irish Life Insurance – New Business Written Premium Through Agencies (EUR Billion), 2012–2017
Table 69: Irish Life Insurance – New Policies Sold Through Agencies (Thousand), 2008–2012
Table 70: Irish Life Insurance – New Policies Sold Through Agencies (Thousand), 2012–2017
Table 71: Irish Life Insurance – Number of Agencies, 2008–2012
Table 72: Irish Life Insurance – Number of Agencies, 2012–2017
Table 73: Irish Life Insurance – E-Commerce Commission Paid (EUR Million), 2008–2012
Table 74: Irish Life Insurance – E-Commerce Commission Paid (EUR Million), 2012–2017
Table 75: Irish Life Insurance – New Business Written Premium Through E-Commerce (EUR Billion), 2008–2012
Table 76: Irish Life Insurance – New Business Written Premium Through E-Commerce (EUR Billion), 2012–2017
Table 77: Irish Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2008–2012
Table 78: Irish Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2012–2017
Table 79: Irish Life Insurance – Number of E-Commerce Distributors, 2008–2012
Table 80: Irish Life Insurance – Number of E-Commerce Distributors, 2012–2017
Table 81: Irish Life Insurance – Commission Paid to Brokers (EUR Billion), 2008–2012
Table 82: Irish Life Insurance – Commission Paid to Brokers (EUR Billion), 2012–2017
Table 83: Irish Life Insurance – New Business Written Premium Through Brokers (EUR Billion), 2008–2012
Table 84: Irish Life Insurance – New Business Written Premium Through Brokers (EUR Billion), 2012–2017
Table 85: Irish Life Insurance – New Policies Sold Through Brokers (Thousand), 2008–2012
Table 86: Irish Life Insurance – New Policies Sold Through Brokers (Thousand), 2012–2017
Table 87: Irish Life Insurance – Number of Brokers, 2008–2012
Table 88: Irish Life Insurance – Number of Brokers, 2012–2017
Table 89: Reinsurance in Ireland by Category (EUR Billion), 2008–2012
Table 90: Reinsurance in Ireland by Category (US$ Billion), 2008–2012
Table 91: Reinsurance in Irish by Category (EUR Billion), 2012–2017
Table 92: Reinsurance in Ireland by Category (US$ Billion), 2012–2017
Table 93: Irish Premium Ceded to Reinsurance by Type of Insurance (EUR Billion), 2008–2012
Table 94: Irish Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008–2012
Table 95: Irish Premium Ceded to Reinsurance by Type of Insurance (EUR Billion), 2012–2017
Table 96: Irish Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012–2017
Table 97: Irish Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 98: Irish Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 99: Ireland – Life Insurance Regulatory Framework
Table 100: Ireland – Property Insurance Regulatory Framework
Table 101: Ireland – Motor Insurance Regulatory Framework
Table 102: Ireland – Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 103: Ireland – Corporate Tax Rates for the Financial Year 2013- 2014
Table 104: Irish Life Insurance Segment – Leading Companies (% Share), 2012
Table 105: Irish Life Assurance, Key Facts
Table 106: Irish Life Assurance, Key Financials (EUR Million)
Table 107: New Ireland Assurance Company, Key Facts
Table 108: New Ireland Assurance Company, Key Financials (EUR Million)
Table 109: Zurich Life Assurance, Key Facts
Table 110: Zurich Life Assurance, Key Financials (EUR Million)
Table 111: Standard Life Assurance Ltd, Key Facts
Table 112: Standard Life Assurance Ltd, Key Financials (EUR Million)
Table 113: Aviva Life and Pension, Key Facts
Table 114: Aviva Life and Pension, Key Financials (EUR Million)
Table 115: Canada Life, Key Facts
Table 116: Canada Life, Key Financials (EUR Million)
Table 117: Friends First Managed Pension Funds Limited, Key Facts
Table 118: Friends First Managed Pension Funds Ltd, Key Financials (EUR Million)
Table 119: Ark Life Assurance Company Ltd, Key Facts
Table 120: Ark Life Assurance Company Ltd, Key Financials (EUR Million)
Table 121: Friends' First Life Assurance Company, Key Facts
Table 122: Friends' First Life Assurance Company, Key Financials (EUR Million)
Table 123: The Royal London Mutual Insurance Society Ltd, Key Facts
Table 124: The Royal London Mutual Insurance Society Ltd, Key Financials (EUR Million)

List of Figures

Figure 1: Peer Group (US$10–40 billion) Insurance Markets – Economies and Populations, 2011
Figure 2: Peer Group (US$10–40 billion) Insurance Markets – Growth Trends in the Insurance Industry (%), 2007–2016
Figure 3: Peer Group (US$10–40 billion) Insurance Markets – Total Industry Values by Segment (US$ Billion), 2011
Figure 4: Peer Group (US$10–40 billion) Insurance Markets – Life Insurance Gross Written Premium Growth (%), 2007–2016
Figure 5: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Premium Per Capita Growth (%), 2011
Figure 6: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Penetration (%), 2011 and 2016
Figure 7: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Gross Written Premium Growth (%), 2007–2016
Figure 8: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Gross Written Premium per Capita Growth (%), 2007–2016
Figure 9: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Loss Ratio (%), 2011 and 2016
Figure 10: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Combined Ratios (%), 2011 and 2016
Figure 11: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Incurred Losses Per Capita (US$), 2011 and 2016
Figure 12: Peer Group (US$10–40 Billion) Insurance Markets – Life Insurance Incurred Losses as a Percentage of GDP (%), 2011 and 2016
Figure 13: Peer Group (US$10–40 Billion) Insurance Markets – Direct Marketing Share of Life Insurance New Business Gross Written Premium (%), 2007–2016
Figure 14: Peer Group (US$10–40 Billion) Insurance Markets – Insurance Brokers’ Share of Life Insurance New Business Gross Written Premium (%), 2007–2016
Figure 15: Peer Group (US$10–40 Billion) Insurance Markets – Bancassurance Share of Life Insurance New Business Gross Written Premium (%), 2007–2016
Figure 16: Peer Group (US$10–40 Billion) Insurance Markets – Agencies’ Share of Life Insurance New Business Gross Written Premium (%), 2007–2016
Figure 17: Irish Insurance – Overall Written Premium by Segment (EUR Billion), 2008–2017
Figure 18: Irish Insurance – Dynamics by Segment, 2008–2017
Figure 19: Irish Life Insurance – Written Premium by Category (EUR Billion), 2008–2017
Figure 20: Irish Life Insurance – Written Premium by Category (% Share), 2012 and 2017
Figure 21: Irish Life Insurance – Dynamics by Category, 2008–2017
Figure 22: Irish Life Insurance – Earned Premium (EUR Billion), 2008–2012
Figure 23: Irish Life Insurance – Earned Premium (EUR Billion), 2012–2017
Figure 24: Irish Life Insurance – Sum Assured (EUR Billion), 2008–2012
Figure 25: Irish Life Insurance – Sum Assured (EUR Billion), 2012–2017
Figure 26: Irish Life Insurance – Paid Claims (EUR Billion), 2008–2012
Figure 27: Irish Life Insurance – Paid Claims (EUR Billion), 2012–2017
Figure 28: Irish Life Insurance – Incurred Loss (EUR Billion), 2008–2012
Figure 29: Irish Life Insurance – Incurred Loss (EUR Billion), 2012–2017
Figure 30: Irish Life Insurance – Loss Ratio (%), 2008–2012
Figure 31: Irish Life Insurance – Loss Ratio (%), 2012–2017
Figure 32: Irish Life Insurance – Commissions and Expenses (EUR Billion), 2008–2012
Figure 33: Irish Life Insurance – Commissions and Expenses (EUR Billion), 2012–2017
Figure 34: Irish Life Insurance – Combined Ratio (%), 2008–2012
Figure 35: Irish Life Insurance – Combined Ratio (%), 2012–2017
Figure 36: Irish Life Insurance – Frauds and Crimes (EUR Million), 2008–2012
Figure 37: Irish Life Insurance – Frauds and Crimes (EUR Million), 2012–2017
Figure 38: Irish Life Insurance – Total Assets (EUR Billion), 2008–2012
Figure 39: Irish Life Insurance – Total Assets (EUR Billion), 2012–2017
Figure 40: Irish Life Insurance – Total Investment Income (EUR Billion), 2008–2012
Figure 41: Irish Life Insurance – Total Investment Income (EUR Billion), 2012–2017
Figure 42: Irish Life Insurance – Retentions (EUR Billion), 2008–2012
Figure 43: Irish Life Insurance – Retentions (EUR Billion), 2012–2017
Figure 44: Irish Life Insurance – Investment Portfolio (EUR Billion), 2008–2012
Figure 45: Irish Life Insurance – Investment Portfolio, 2008 and 2012
Figure 46: Irish Life Insurance – Density (Number of Policies per Capita), 2008–2012
Figure 47: Irish Life Insurance – Number of Active Policies (Million), 2008–2012
Figure 48: Irish Life Insurance – Number of Active Policies (Million), 2012–2017
Figure 49: Irish Life Insurance – Premium Per-capita (EUR), 2008–2012
Figure 50: Irish Individual Life Insurance – Number of Active Policies (Million), 2008–2012
Figure 51: Irish Individual Life Insurance – Number of Active Policies (Million), 2012–2017
Figure 52: Irish Individual Life Insurance – Written Premium (EUR Billion), 2008–2012
Figure 53: Irish Individual Life Insurance – Written Premium (EUR Billion), 2012–2017
Figure 54: Irish Individual Pension Insurance – Number of Active Policies (Million), 2008–2012
Figure 55: Irish Individual Pension Insurance – Number of Active Policies (Million), 2012–2017
Figure 56: Irish Individual Pension Insurance – Written Premium (EUR Billion), 2008–2012
Figure 57: Irish Individual Pension Insurance – Written Premium (EUR Billion), 2012–2017
Figure 58: Irish Individual Single-Premium Insurance – Number of Active Policies (Million), 2008–2012
Figure 59: Irish Individual Single-Premium Insurance – Number of Active Policies (Million), 2012–2017
Figure 60: Irish Individual Single-Premium Insurance – Written Premium (EUR Billion), 2008–2012
Figure 61: Irish Individual Single-Premium Insurance – Written Premium (EUR Billion), 2012–2017
Figure 62: Irish Individual Non-Single-Premium Insurance – Number of Active Policies (Million), 2008–2012
Figure 63: Irish Individual Non-Single-Premium Insurance – Number of Active Policies (Million), 2012–2017
Figure 64: Irish Individual Non-Single-Premium Insurance – Written Premium (EUR Billion), 2008–2012
Figure 65: Irish Individual Non-Single-Premium Insurance – Written Premium (EUR Billion), 2012–2017
Figure 66: Irish Life Insurance – New Business Written Premium by Distribution Channel (% Share), 2012 and 2017
Figure 67: Irish Life Insurance – Direct Marketing Commission Paid (EUR Billion), 2008–2012
Figure 68: Irish Life Insurance – Direct Marketing Commission Paid (EUR Billion), 2012–2017
Figure 69: Irish Life Insurance – New Business Written Premium Through Direct Marketing (EUR Billion), 2008–2012
Figure 70: Irish Life Insurance – New Business Written Premium Through Direct Marketing (EUR Billion), 2012–2017
Figure 71: Irish Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2008–2012
Figure 72: Irish Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2012–2017
Figure 73: Irish Life Insurance – Number of Direct Marketing Distributors, 2008–2012
Figure 74: Irish Life Insurance – Number of Direct Marketing Distributors, 2012–2017
Figure 75: Irish Life Insurance – Bancassurance Commission Paid (EUR Billion), 2008–2012
Figure 76: Irish Life Insurance – Bancassurance Commission Paid (EUR Billion), 2012–2017
Figure 77: Irish Life Insurance – New Business Written Premium Through Bancassurance (EUR Billion), 2008–2012
Figure 78: Irish Life Insurance – New Business Written Premium Through Bancassurance (EUR Billion), 2012–2017
Figure 79: Irish Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2008–2012
Figure 80: Irish Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2012–2017
Figure 81: Irish Life Insurance – Number of Bancassurance Distributors, 2008–2012
Figure 82: Irish Life Insurance – Number of Bancassurance Distributors, 2012–2017
Figure 83: Irish Life Insurance – Commission Paid to Agencies (EUR Billion), 2008–2012
Figure 84: Irish Life Insurance – Commission Paid to Agencies (EUR Billion), 2012–2017
Figure 85: Irish Life Insurance – New Business Written Premium Through Agencies (EUR Billion), 2008–2012
Figure 86: Irish Life Insurance – New Business Written Premium Through Agencies (EUR Billion), 2012–2017
Figure 87: Irish Life Insurance – New Policies Sold Through Agencies (Thousand), 2008–2012
Figure 88: Irish Life Insurance – New Policies Sold Through Agencies (Thousand), 2012–2017
Figure 89: Irish Life Insurance – Number of Agencies, 2008–2012
Figure 90: Irish Life Insurance – Number of Agencies, 2012–2017
Figure 91: Irish Life Insurance – E-Commerce Commission Paid (EUR Million), 2008–2012
Figure 92: Irish Life Insurance – E-Commerce Commission Paid (EUR Million), 2012–2017
Figure 93: Irish Life Insurance – New Business Written Premium Through E-Commerce (EUR Billion), 2008–2012
Figure 94: Irish Life Insurance – New Business Written Premium Through E-Commerce (EUR Billion), 2012–2017
Figure 95: Irish Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2008–2012
Figure 96: Irish Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2012–2017
Figure 97: Irish Life Insurance – Number of E-Commerce Distributors, 2008–2012
Figure 98: Irish Life Insurance – Number of E-Commerce Distributors, 2012–2017
Figure 99: Irish Life Insurance – Commission Paid to Brokers (EUR Billion), 2008–2012
Figure 100: Irish Life Insurance – Commission Paid to Brokers (EUR Billion), 2012–2017
Figure 101: Irish Life Insurance – New Business Written Premium Through Brokers (EUR Billion), 2008–2012
Figure 102: Irish Life Insurance – New Business Written Premium Through Brokers (EUR Billion), 2012–2017
Figure 103: Irish Life Insurance – New Policies Sold Through Brokers (Thousand), 2008–2012
Figure 104: Irish Life Insurance – New Policies Sold Through Brokers (Thousand), 2012–2017
Figure 105: Irish Life Insurance – Number of Brokers, 2008–2012
Figure 106: Irish Life Insurance – Number of Brokers, 2012–2017
Figure 107: Irish Life Insurance – Porter’s Five Forces Analysis
Figure 108: Irish Premium Ceded to Reinsurance by Category (EUR Billion), 2008–2017
Figure 109: Irish Premium Ceded to Reinsurance by Category (% Share), 2012 and 2017
Figure 110: Irish Reinsurance – Dynamics by Category, 2008–2017
Figure 111: Irish Premium Ceded to Reinsurance by Type of Insurance (EUR Billion), 2008–2017
Figure 112: Irish Reinsurance – Dynamics by Type of Insurance, 2008–2017
Figure 113: Irish Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 114: Irish Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 115: Ireland – Insurance Regulatory Framework
Figure 116: Ireland – The Three Pillars of Solvency II
Figure 117: Ireland – Insurance Supervision and Control at Various Levels
Figure 118: Ireland – Insurance Regulatory Frameworks for Company Registration and Operation
Figure 119: Irish Life Insurance Segment – Leading Companies (% Share), 2012
Figure 120: Irish Life Insurance Gross Written Premium Insurance – Top Five Irish Life Insurers, 2012
Figure 121: Irish Life Insurance Gross Claims – Top Five Irish Life Insurers, 2012
Figure 122: Irish Life Insurance Total Assets – Top Five Irish Life Insurers, 2012
Figure 123: Irish Stock Exchange Market Capitalization (US$ Billion), 2008–2012
Figure 124: Irish GDP at Constant Prices (US$ Billion), 2008–2012
Figure 125: Irish GDP per Capita at Constant Prices (US$), 2008–2012
Figure 126: Irish GDP at Current Prices (US$ Billion), 2008–2012
Figure 127: Irish GDP per Capita at Current Prices (US$), 2008–2012
Figure 128: Irish GDP by Key Segments (%) 2007 and 2011
Figure 129: Irish Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 130: Irish Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 131: Irish Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 132: Irish Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 133: Irish Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2011
Figure 134: Irish Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 135: Irish Construction Net Output at Current Prices (US$ Billion), 2007–2011
Figure 136: Irish Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 137: Irish Inflation Rate (%), 2008–2012
Figure 138: Irish Exports as a Percentage of GDP (%), 2007–2011
Figure 139: Irish Imports as a Percentage of GDP (%), 2007–2011
Figure 140: Irish Merchandise Exports Growth (%), 2008–2011
Figure 141: Irish Merchandise Imports Growth (%), 2008–2011
Figure 142: Irish Annual Average Exchange Rate US$–EUR, 2008–2012
Figure 143: Irish Commercial Vehicles Exports – Total Value (US$ Million), 2007–2011
Figure 144: Irish Commercial Vehicles Imports – Total Value (US$ Billion), 2007–2011
Figure 145: Irish Automotive Exports – Total Value (US$ Million), 2007–2011
Figure 146: Irish Automotive Imports – Total Value (US$ Billion), 2007–2011
Figure 147: Irish Internet Subscriptions (Millions), 2007–2011
Figure 148: Irish Size of Labor Force (Million), 2007–2011
Figure 149: Irish Unemployment Rate (%), 2008–2012
Figure 150: Irish Gross National Disposable Income (US$ Billion), 2007–2011
Figure 151: Irish Household Consumption Expenditure (US$ Billion), 2007–2011
Figure 152: Irish Total Population (Million), 2008–2012
Figure 153: Irish Urban and Rural Populations (%), 2008–2012
Figure 154: Irish Population Distribution by Age (%), 2008–2012

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