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Synopsis
Timetric’s 'Non-Life Insurance in Ireland, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Irish non-life insurance segment, and a comparison of the Irish insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Irish economy and demographics, explains the various types of natural hazard and their impact on the Irish insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Ireland, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Irish non-life insurance segment, including:

- Irish non-life insurance segment’s detailed outlook by product category

- A comprehensive overview of Irish economy and demographics

- A comparison of the Irish insurance industry with its regional counterparts

- Detailed analysis of natural hazards and their impact on the Irish insurance industry

- Details of the competitive landscape in the non-life insurance segment in Ireland

- Details of regulatory policy applicable to Irish insurance industry

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

- It provides historical values for the Irish non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Irish non-life insurance segment, and market forecasts to 2019.

- It analyzes the various distribution channels for non-life insurance products in Ireland.

- It profiles the top non-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 non-life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Irish non-life insurance segment.

- Assess the competitive dynamics in the non-life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Irish insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The Irish non-life segment’s gross written premium declined at a CAGR of -4.5% during the review period.

- During the review period, non-life insurers failed to grow in terms of premiums generated.

- High paid claims were a matter of concern for motor insurance providers during the review period.

- The introduction of mandatory liability insurance classes, such as professional indemnity insurance for investment fund managers and liability insurance for clinical trials, supported the growth of the liability insurance category during the review period.

- Brokers accounted for 58.8% of the segment’s gross written premium in 2014.

- During the review period, insurers operating in Ireland changed their names as part of a marketing strategy and mergers and acquisitions.

Table Of Contents

Non-Life Insurance in Ireland, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Insurance brokers
6.1.2 Direct marketing
6.1.3 Other channels
7 Natural Hazards
7.1 Floods and Landslides
7.2 Storms
7.3 Earthquake
7.4 Freezing
7.5 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Irish Non-Life Insurance Segment
8.2.1 Axa Insurance Ltd - company overview
8.2.2 RSA Insurance Ireland Ltd - company overview
8.2.3 Allianz Plc - company overview
8.2.4 FBD Insurance Plc - company overview
8.2.5 Liberty Insurance Ltd - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Social security insurance
9.4.2 Motor third-party liability insurance
9.4.3 Air carriers and aircraft operators insurance
9.4.4 Professional indemnity insurance for alternative investment fund managers
9.4.5 Public liability for vessels licensed to carry more than 12 passengers
9.4.6 Passenger liability insurance for railway operators
9.4.7 Professional indemnity insurance for solicitors
9.4.8 Professional indemnity insurance for accountants
9.4.9 Professional indemnity insurance for brokers
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 European Insurance and Occupational Pensions Authority
9.5.3 Federation of European Risk Management Associations (FERMA)
9.5.4 Central Bank of Ireland
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Property Insurance
10.7 Property Insurance by Product
10.8 Motor Insurance
10.9 Liability Insurance
10.1 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Irish Non-Life Insurance - Key Facts, 2014
Table 2: Irish Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Irish Government Credit Ratings
Table 4: Irish Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2010-2014
Table 5: Irish Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Irish Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2014-2019
Table 7: Irish Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Irish Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014
Table 9: Irish Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019
Table 10: Irish Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 11: Irish Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 12: Irish Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Irish Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Irish Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2010-2014
Table 15: Irish Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2014-2019
Table 16: Irish Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2014
Table 17: Irish Non-Life Insurance - Investment Portfolio (EUR Billion), 2014-2019
Table 18: Irish Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
Table 19: Irish Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
Table 20: Irish Property Insurance - Crop Production by Type of Crop (Thousand Tons), 2010-2014
Table 21: Irish Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
Table 22: Irish Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
Table 23: Irish Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 24: Irish Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 25: Irish Property Insurance - Loss Ratio (%), 2010-2014
Table 26: Irish Property Insurance - Loss Ratio (%), 2014-2019
Table 27: Irish Motor Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2010-2014
Table 28: Irish Motor Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2014-2019
Table 29: Irish Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 30: Irish Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 31: Irish Motor Insurance - Loss Ratio (%), 2010-2014
Table 32: Irish Motor Insurance - Loss Ratio (%), 2014-2019
Table 33: Irish Liability Insurance - Gross Written Premium (EUR Million), 2010-2014
Table 34: Irish Liability Insurance - Gross Written Premium (EUR Million), 2014-2019
Table 35: Irish Liability Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 36: Irish Liability Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 37: Irish Liability Insurance - Loss Ratio (%), 2010-2014
Table 38: Irish Liability Insurance - Loss Ratio (%), 2014-2019
Table 39: Irish Marine, Aviation and Transit Insurance - Total Passenger Numbers Handled By All Airports, 2010-2014
Table 40: Irish Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2010-2014
Table 41: Irish Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2014-2019
Table 42: Irish Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 43: Irish Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 44: Irish Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 45: Irish Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 46: Irish Non-Life Insurance - Gross Written Premium by Distribution Channel (EUR Billion), 2010-2014
Table 47: Irish Non-Life Insurance - Gross Written Premium by Distribution Channel (EUR Billion), 2014-2019
Table 48: Irish Non-Life Insurance - Gross Written Premium by Distribution Channel (%), 2010-2019
Table 49: Irish Recent Natural Hazard Events
Table 50: Claim Breakdown for December 2013 - January 2014 Floods and Storms
Table 51: Irish Non-Life Insurance - Market Share (%), 2014
Table 52: Axa Insurance Ltd - Key Facts
Table 53: Axa Insurance Ltd - Key Financials (EUR Million), 2010-2014
Table 54: RSA Insurance Ireland Ltd - Key Facts
Table 55: RSA Insurance Ireland Ltd - Key Financials (EUR Million), 2010-2014
Table 56: Allianz Plc - Key Facts
Table 57: Allianz Plc - Key Financials (EUR Million), 2010-2014
Table 58: FBD Insurance Plc - Key Facts
Table 59: FBD Insurance Plc - Key Financials (EUR Million), 2010-2014
Table 60: Liberty Insurance Ltd - Key Facts
Table 61: Liberty Insurance Ltd - Key Financials (EUR Million), 2011-2014
Table 62: Ireland - Insurance Regulatory Framework Key Features
Table 63: Ireland - Life Insurance Regulatory Framework
Table 64: Ireland - Property Insurance Regulatory Framework
Table 65: Ireland - Motor Insurance Regulatory Framework
Table 66: Ireland - Liability Insurance Regulatory Framework
Table 67: Ireland - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 68: Ireland - Insurance Funding Levy
Table 69: Ireland - Corporate Tax Rates for the Financial Year 2016
Table 70: Irish Insurance Industry - Policies and Premium, 2010-2014
Table 71: Irish Insurance Industry - Policies and Premium, 2014-2019
Table 72: Irish Non-Life Insurance - Claims and Expenses, 2010-2014
Table 73: Irish Non-Life Insurance - Claims and Expenses, 2014-2019
Table 74: Irish Non-Life Insurance - Assets and Investments, 2010-2014
Table 75: Irish Non-Life Insurance - Assets and Investments, 2014-2019
Table 76: Irish Non-Life Insurance - Direct Marketing, 2010-2014
Table 77: Irish Non-Life Insurance - Direct Marketing, 2014-2019
Table 78: Irish Non-Life Insurance - Insurance Brokers, 2010-2014
Table 79: Irish Non-Life Insurance - Insurance Brokers and Agencies, 2014-2019
Table 80: Irish Non-Life Insurance - Property Insurance, 2010-2014
Table 81: Irish Non-Life Insurance - Property Insurance, 2014-2019
Table 82: Irish Non-Life Insurance - Property Insurance by Product, 2010-2014
Table 83: Irish Non-Life Insurance - Property Insurance by Product, 2014-2019
Table 84: Irish Non-Life Insurance - Motor Insurance, 2010-2014
Table 85: Irish Non-Life Insurance - Motor Insurance, 2014-2019
Table 86: Irish Non-Life Insurance - Liability Insurance, 2010-2014
Table 87: Irish Non-Life Insurance - Liability Insurance, 2014-2019
Table 88: Irish Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014
Table 89: Irish Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019
Table 90: Insurance Industry Definitions

List of Figures
Figure 1: Irish Real GDP (EUR Billion), 2010-2019
Figure 2: EUR-US$ Exchange Rate, 2010-2019
Figure 3: Irish Consumer Price Inflation, 2010-2019
Figure 4: Irish Current Account Balance as Percentage of GDP (%), 2010-2019
Figure 5: Irish Unemployment Rate, 2010-2019
Figure 6: Irish Population by Age Group, 2001-2025
Figure 7: Irish Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Irish Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Irish Non-Life Insurance - Gross Written Premium (EUR Billion), 2010-2019
Figure 10: Irish Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Irish Non-Life Insurance - Premium per Capita (EUR), 2010-2019
Figure 12: Irish Non-Life Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 13: Irish Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Irish Non-Life Insurance - Total Assets (EUR Billion), 2010-2019
Figure 15: Irish Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2019
Figure 16: Irish Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 17: Irish Non-Life Insurance - Gross Written Premium by Category (EUR Billion and US$ Billion), 2010-2019
Figure 18: Irish Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 19: Irish Property Insurance - Construction Value Output by Category (EUR Billion), 2010-2019
Figure 20: Irish Property Insurance - Burglary and Related Offenses, 2010-2014
Figure 21: Irish Property Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2019
Figure 22: Irish Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 23: Irish Property Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 24: Irish Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 25: Irish Motor Insurance - New Vehicle Registration By Type, 2010-2015
Figure 26: Irish Motor Insurance - Total Road Vehicle Population (Million), 2010-2014
Figure 27: Irish Motor Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2019
Figure 28: Irish Motor Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 29: Irish Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 30: Irish Liability Insurance - Gross Written Premium (EUR Million), 2010-2019
Figure 31: Irish Liability Insurance - Paid Claims (EUR Million), 2010-2019
Figure 32: Irish Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 33: Irish Marine, Aviation and Transit Insurance - Goods Exports and Imports (EUR Billion), 2010-2014
Figure 34: Irish Marine, Aviation and Transit Insurance - Total Passengers Travelled Through Airways, 2010-2014
Figure 35: Irish Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2010-2019
Figure 36: Irish Marine, Aviation and Transit Insurance - Paid Claims (EUR Million), 2010-2019
Figure 37: Irish Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 38: Irish Non-Life Insurance - Gross Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 39: Irish Non-Life Insurance - Market Share (%), 2014
Figure 40: Ireland - The Three Pillars of Solvency II
Figure 41: Ireland - Insurance Supervision and Control at Various Levels
Figure 42: Ireland - Insurance Regulatory Frameworks for Company Registration and Operation

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