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Ireland Insurance Report Q3 2015


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Ireland Insurance Report Q3 2015

BMI View: A faster than expected economic recovery within Ireland is supporting growth in the insurancesector, with slow but steady growth expected in local currency terms throughout our forecast periodthrough to 2019 based on rising rates of private financial consumption and increased demand for a broadrange of insurance products. In US dollar terms, however, we expect to see a contract in market values in2015 and 2016 following the depreciation of the euro against the dollar.

We expect private consumption to become the main driver of real GDP growth over 2015 and 2016, addingan average of 1.3 percentage points (pp) to growth in the Irish economy. Strong exports and steadyinvestment from multinationals will continue translating into falling unemployment and rising wages. Thisshould lead to improvements in household disposable incomes, which will also be boosted by a prolongedlow inflation environment in the country. Government attempts to woo voters in the run up to parliamentaryelections scheduled for 2016 should also benefit households, with the ruling Fine Gael/Labour coalitionalready announcing income tax cuts and benefits increases starting in 2015. All of these factors willcontribute to rising premiums for both life and non life lines, in euro-terms. Motor insurance and credit/financial guarantee insurance are expected to be the strongest lines in the non-life sector following a rise inlending and increase in new car sales.


BMI Industry View
SWOT
Political
Economic
Industry Forecast
Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Ireland 2012-2019)
Table: Net Life Premiums Written (Ireland 2012-2019)
Life Reinsurance Premiums
Table: Reinsurance Life Premiums Written (Ireland 2012-2019)
Life Claims
Table: Life Insurance Claims (Ireland 2007-2014)
Life Insurers' Assets
Table: Assets (Ireland 2007-2013)
Life Insurance Drivers
Table: Life Expectancy by Gender (Ireland 2012-2019)
Table: Demographic Breakdown (Ireland 2012-2019)
Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Ireland 2012-2019)
Table: Net Non-Life Premiums Written (Ireland 2012-2019)
Non-Life Reinsurance Premiums
Table: Reinsurance Non-Life Premiums Written (Ireland 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Ireland 2007-2013)
Table: Non-Life Insurance Claims by Line (Ireland 2007-2013)
Non-Life Insurers' Assets
Table: Assets (Ireland 2007-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Ireland 2012-2019)
Motor And Transport Insurance
Table: Motor Vehicle Insurance (Ireland 2012-2019)
Table: Insurance Key Drivers, Autos (Ireland 2012-2019)
Table: Transport Insurance (Ireland 2012-2019)
Property Insurance
Table: Property Insurance (Ireland 2012-2019)
Health and Personal Accident Insurance
Table: Health and Personal Accident Insurance (Ireland 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Ireland 2012-2019)
Credit And General Liability Insurance
Table: Credit/Financial Guarantee Insurance (Ireland 2012-2019)
Table: General Liability Insurance (Ireland 2012-2019)
Industry Risk Reward Ratings
Developed States Insurance Risk/Reward Index
Table: Developed States Insurance Risk/Reward Index
Market Overview
Life Market Overview
Table: Life Insurance Market (USDmn) 2007-2013
Table: Life Insurance Market (%) 2007-2013
Non-Life Market Overview
Table: Non-Life Insurance Market (USDmn) 2007-2013
Table: Non-Life Insurance Market (%) 2007-2013
Company Profile
Aviva
AXA
FBD
Intesa Sanpaolo Life
Irish Life
RSA Insurance
Demographic Forecast
Table: Population Headline Indicators (Ireland 1990-2025)
Table: Key Population Ratios (Ireland 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Ireland 1990-2025)
Table: Population By Age Group (Ireland 1990-2025)
Table: Population By Age Group % (Ireland 1990-2025)
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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