Ireland

Ireland Insurance Market Highlights

Market Regulation:

Supervision is provided by the Central Bank of Ireland. Axco’s regulatory monitoring focuses on the 2026 Individual Accountability Framework (IAF) and duty of care reforms.

Non-Life Market Trends:

The IFSC drives massive growth in cross-border reinsurance; Axco data identifies a softening in domestic Motor rates following significant legal and personal injury reforms.

Distribution Channels:

Brokers lead the commercial landscape; Axco analysis reveals a fierce battle between Bancassurance and Direct models in the retail motor segment.

Key Risks & Outlook:

The outlook for the "Dublin Hub" remains positive; however, Axco’s outlook notes rising costs in medical malpractice and casualty lines as a concern.

Insurance Companies:

Axco Navigator details that there are 682 non-life insurers authorised to do business in Ireland on a freedom of services basis and 41 authorised life insurance companies within the Solvency II reporting framework, of which 35 had a head office in Ireland and six in other EU countries.

Insurance Statistics:

Axco reports written premiums in 2024 increased by 6.2% to EUR 4,384 Mn with motor the largest class of business, accounting for 46% of premiums. Insurance penetration stands at 0.78%.

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Ireland Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Ireland includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

Key Benefits

• Superior market insights
• Crucial compliance information
• Risk assessment and profitability

What is the Non-Life Insurance market in Ireland?

In May 2026, there were 87 Irish-domiciled non-life insurance undertakings, plus around 25 companies with head offices in other EU member states, ie branches, including Lloyd's Insurance Company SA, Brussels, and four Solvency II undertakings with their head offices outside the EU. In addition, there were over 650 non-life insurers authorised to do business in Ireland on a freedom of services basis.

Following Brexit, there are 44 companies registered in either the UK or Gibraltar which have given notice to the Central Bank of Ireland under the terms of the "temporary run-off regime", and a further two companies which had offices in the state, also under the regime.

In the Non-Life (P&C) market, XL Insurance Company SE was the market leader, recording EUR 5,960.57 million in written premiums and 26.61% market share in 2024. It was followed by VHI Insurance DAC (EUR 1,885.15 million; 8.42% market share) and AXA Insurance Limited (EUR 1,138.54 million; 5.08% market share).

Among the leading non-life insurers, Pharma International Insurance dac reported the strongest growth. 87 companies are licensed for non-life business in 2024. 

Who are the top non-life insurers in Ireland?

Source: Axco Navigator, Ireland Insurance Market Rankings.

What is the Life Insurance market in Ireland?

As of 2 March 2026, the CBI reported 38 authorised life insurance companies within the Solvency II reporting framework, of which 32 had a head office in Ireland and six in other EU countries. The number of life insurance companies has been slowly declining along with an ongoing market consolidation.

The Voluntary Health Insurance Board (Vhi Healthcare), a non-life insurer, remains the largest private medical insurance (PMI) provider. There were “tens of thousands” registered trust-based pension schemes reported by the Pensions Authority, with most of them being a single-member pension schemes, expected to transfer into a PRSA or a multi-employer master trust in the coming years.

In the Life insurance market, Irish Life Assurance Plc was the largest insurer in 2024, generating EUR 7,968.47 million in written premiums and holding 16.55% market share. It was followed by Zurich Life Assurance plc (EUR 6,196.98 million; 12.87% market share) and Darta Saving Life Assurance DAC (EUR 4,654.80 million; 9.67% market share).

The fastest-growing major life insurer was Saol Assurance Designated Activity Company, with premium growth of 463.4% year-on-year. 33 companies are licensed for life business in 2024.

Who are the top life insurers in Ireland?

Source: Axco Navigator, Ireland Insurance Market Rankings.

Country Information

Ireland is one of the smallest EU countries with an estimated population of 4.94 million in 2020, although experiencing the highest population growth in Europe over the last decade, mostly due to work-force immigration.

The onshore and offshore (re)insurance and captive markets centred on the Dublin International Financial Services Centre (IFSC) continue to grow in income terms, especially after the UK’s Brexit referendum.

In June 2020 there were 93 Irish-domiciled non-life insurance undertakings, plus 31 companies with head offices in other EU member states (including Lloyd's representative office, and a branch of Lloyd's Insurance Company, Brussels), and one local company under administration. In addition, there were 830 non-life insurers authorised to do business in Ireland on a freedom of services basis. The Irish non-life market is, however, primarily in the hands of international groups and two local companies plus Lloyd's underwriters.