Life Insurance & Pension in Ireland
Summary
Life Insurance & Pension in Ireland industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Irish life insurance & pension market recorded gross written premiums of $19.8 billion in 2023, representing a negative compound annual growth rate (CAGR) of 16.6% between 2018 and 2023.
- The pension/annuity segment accounted for the market's largest proportion in 2023, with total gross written premiums of $14.5 billion, equivalent to 73.3% of the market's overall value.
- The significant drop in GDP growth has created more uncertainty for consumers about their financial security. For instance, according to the Central Statistics Office, Ireland, the real GDP annual growth of Ireland stood at negative 5.5% in 2023 as compared to 8.6% in 2022. This negative economic outlook has discouraged consumers from spending more on financial protection and retirement planning.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Ireland
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Ireland
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Ireland life insurance & pension market with five year forecasts by both value and volume
- What was the size of the Ireland life insurance & pension market by value in 2023?
- What will be the size of the Ireland life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Ireland life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Ireland's life insurance & pension market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What are the strategies of the leading players?
- 7.3. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Aviva Life & Pensions Ireland DAC
- 8.2. Irish Life Assurance plc
- 8.3. New Ireland Assurance Company Plc
- 8.4. Zurich Life Assurance plc
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Ireland life insurance & pension market value: $ billion, 2018-23
- Table 2: Ireland life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Ireland life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Ireland life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Ireland life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Aviva Life & Pensions Ireland DAC: Key Facts
- Table 7: Aviva Life & Pensions Ireland DAC: Key Employees
- Table 8: Irish Life Assurance plc: Key Facts
- Table 9: Irish Life Assurance plc: Key Employees
- Table 10: New Ireland Assurance Company Plc: Key Facts
- Table 11: New Ireland Assurance Company Plc: Key Employees
- Table 12: Zurich Life Assurance plc: Key Facts
- Table 13: Zurich Life Assurance plc: Key Employees
- Table 14: Ireland Size of Population (million), 2019-23
- Table 15: Ireland Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 16: Ireland GDP (Current Prices, $ Billion), 2019-23
- Table 17: Ireland Inflation, 2019-23
- Table 18: Ireland Consumer Price Index (Absolute), 2019-23
- Table 19: Ireland Exchange Rate, 2018-23
- List of Figures
- Figure 1: Ireland life insurance & pension market value: $ billion, 2018-23
- Figure 2: Ireland life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Ireland life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Ireland life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Ireland, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Ireland, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Ireland, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Ireland, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Ireland, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Ireland, 2023
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