The dramatic growth of the Irish insurance and reinsurance industry in recent years was underlined by the large attendance and prestigious speaker list at the Aon European Insurance Forum, held recently in Dublin.
The statistics say it all. Figures for 2001 published by the Department of Enterprise, Trade & Employment (Dete), which regulates the industry in Ireland, show 203 insurers established in Ireland, not including captive companies or reinsurance companies. Total premium income for both Irish and foreign risks underwritten by these insurers in 2001 was E18.93bn (£13bn), of which E11.53bn (£7.92bn) represented domestic risk and E7.4bn (£5.08bn) represented international risk. Life premium income increased from E2.48bn (£1.70bn) in 1995 to more than five times that in 2001. Non-life premium income increased from E1.7bn (£1.16bn) in 1995 to three times that in 2001.
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