Ireland Insurance Market Intelligence -- New Report by Koncept Analytics

April 29, 2010 - PRLog -- Ireland is one of the top countries in Europe in terms of insurance density. Despite a fall in density in 2008, it was higher than most other European countries, including Italy, Germany, Sweden and France and lower only to the UK, Switzerland and Denmark. In 2003, the responsibility for the authorization and supervision of insurance undertakings was transferred to the  
new Irish Financial Services Regulatory Authority (IFSRA). The Irish insurance industry is composed of a wide variety of business lines, which include life, non-life or general, captive, reinsurance and special purpose sectors.

The profitability of the Irish insurance industry fell sharply in 2008 on account of global financial crisis. The domestic new life and pension business, excluding the investment only business, registered a decline in the first half of 2009. Individual assurances and annuities and pension scheme business continue to be the two main segments in life insurance sector. Motor insurance was the largest segment within the non-life business. The accident & health, and the fire and other damage to property were the two segments that recorded a positive growth in 2008. Non–life premium penetration has been low as compared to life penetration, and has been on a decline since 2003. Irish Life is the largest life insurer, whereas Hibernian Aviva is the market leader in general insurance. Due to the projected rise in unemployment, falling private consumption and lower international and domestic demand, the insurance premiums will experience a decline in future years.

The report broadly includes the following

1. Industry Snapshot

1.1 Industry Structure
1.2 Market Overview

1.2.1 Market Size & Growth
1.2.2 Market Segments
1.2.3 Market Density & Penetration
1.2.4 Market Share

2. Industry Analysis

2.1 Industry Developments
2.2 Market Drivers

3. Country Analysis: Risk Assessment

4. Industry Outlook: Forecast and Projections

List of Tables

Non-Life Insurance Operating Ratio (2008)
Ireland Insurance Density Compared to Rest of the World (2008)
Insurance Density in Selected Industrialized Countries (2008)
Private Health Insurance Market Growth in Ireland (2001-2008)
Key Macroeconomic Indicators: (2005 – 2010)

List of Charts

Annual Premium – Ireland Insurance Industry (2001-2008)
Ireland Insurance Premium by Segment (2001-2008)
Ireland Life Insurance Share by Segments (2008)
Ireland Non-Life Insurance Market Share by Segments (2008)
Ireland Insurance Density (US$) (2001 – 2008)
Ireland Insurance Penetration (2001 – 2008)
Life Insurance Players Market Share (2008)
Non-Life Insurance Players Market Share (2008)
Permanent Health Insurance Premium Growth (2001-2008)
Ireland GDP Growth (2001-2008)
Ireland Annual GDP Growth Rate (April 2006 – July 2009)
Population Growth of Ireland (2001-2008)
Ireland House Completion Growth (2001-2008)
Ireland House Price Growth (2001-2008)
Forecast: Ireland Insurance Industry (2008A - 2012F)
Forecast: Ireland Life & Non-Life Insurance Industry (2008A - 2012F)

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Koncept Analytics, founded in 2005, works with the clients in developing an understanding of the various industries – segments and sub-segments, companies, competitors and suppliers.