Boston, MA -- (SBWire) -- 03/12/2013 --The Irish life insurance segment is amongst the top 15 in Europe in terms of gross written premiums. The segment holds the largest share of the country's insurance industry, accounting for 58.9% of the total gross written premiums in 2012. The Irish life insurance segment is highly concentrated with the five leading players accounting for 85% of the total gross premiums in 2011.
Key Highlights
- Factors such as the country's aging population, reforms in pension law and insurer efforts to minimize cost and enhance efficiency in terms of writing new business and product innovations are expected to drive growth in the Irish life insurance segment over the forecast period
- The Irish government, through Budget 2013, continues to provide tax relief for pension contributions at the marginal rate of income tax, which is currently at 41%. This will provide an incentive for the middle income group to save for retirement
- The Irish life insurance segment is highly concentrated, with the country's five leading insurers accounting for a collective market share of 85.2%
- The Irish life insurance segment was the 14th largest in Europe and accounted for 1.4% of the total European life gross written premiums
View Full Report Details and Table of Contents
Scope
This report provides a comprehensive analysis of the life insurance market in Ireland:
- It provides historical values for the Irish life insurance market for the report's 2008-2012 review period and forecast figures for the 2013-2017 forecast period
- It offers a detailed analysis of the key sub-segments in the Irish life insurance market, 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 market in Ireland and its growth prospects
- It profiles the top life insurance companies in Ireland and outlines the key regulations affecting them
Reasons to Get this Report
- Make strategic business decisions using in depth historic and forecast market data related to the Irish life insurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Irish life insurance market
- Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
Companies Mentioned in this Report: Irish Life, New Ireland Assurance Company, Zurich Life Assurance plc, Aviva, Canada Life
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Market Report, "Life Insurance in Ireland, Key Trends and Opportunities to 2017", Published
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