Abstract
Overview
Introduction
This report is most appropriate for companies looking for an overview of the
life insurance and pensions markets in order to assess the level of market
opportunity (using our market data and forecasts), regulatory barriers and
opportunities, and level of competition in the market. For more detailed
market data please refer to Datamonitor' s European Life and Pensions
Interactive Database 2006.
Scope
- Presents competitor market data for life insurance and pensions companies;
- Assesses regulatory barriers and opportunities;
- 5 years historic data from 2001-5 and 5 year forecast to 2010.
Report Highlights
Following compound annual growth in premium income of 8% in the last five
years, between 2006 and 2010, growth in the Irish life and pensions market is
set to slow to 5.7%. The market currently reflects a high rate of
concentration compared to other European states, with the top five firms
accounting for 75% of premium income.
In 2005, brokers continued to dominate distribution of single and annual
premium new business, although their share of single premium business, in
particular, suffered a decline of 16 percentage points, when compared to 2004.
This decline was largely offset by an increase of 14% in new single premium
business generated through direct sales.
Irish Life is the largest life and pensions insurance provider in Ireland,
measured by premium income as at December 2005. The company reaches its
customers through independent brokers, bancassurance (via permanent tsb),
direct sales, franchises, institutional (other bank branch networks) and
telephone/internet channels.
Reasons to Purchase
- Get an overview of the life and pensions market, including past growth and
forecast growth;
- Assess regulatory barriers and opportunities affecting life insurance and
pensions in this country;
- Analyze competition from life insurance companies.
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