State ‘becoming less attractive to insurers’ - report

New study shows a decline in the number of insurers and reinsurers based in Ireland

Moyagh Murdock, chief executive of Insurance Ireland: ‘Ireland had previously been highly successful in attracting international insurers to the market, bringing significant jobs and investment to the country’. Picture: Fergal Phillips

Ireland’s insurance market continues to grow but there are indications that the state’s attractiveness as a location for international companies is declining, a new report shows.

The study, which has been compiled by consulting firm Milliman on behalf of Insurance Ireland, shows the sector employs 35,000 people in Ireland and contributes over €2.7 billion to the Exchequer annually.

As of August 2023, there were 187 insurance and reinsurance companies located in Ireland. Measured by gross ...