Ireland is one of the top 6 insurance markets in the EU and the 2nd biggest market for reinsurance. Irish insurers are active in nearly all EU markets and in more than 110 countries worldwide.
The EU project and the single market are critical components to the success of the insurance sector in Ireland: through the single market Irish insurers have access to a population of more than 440 million. With the opening of its office in Brussels, Insurance Ireland underlined its commitment to the EU project and its ambition to strengthen the voice of Irish insurers in Europe and beyond. Insurance Ireland has rolled out an intense engagement strategy with its EU insurance colleagues and institutions to promote its members’ vision of an integrated, innovative and sustainable EU single market (for insurance). Insurance Ireland aims to contribute its expertise and experience to the EU policy and regulatory discussion in cooperation with EU institutions, EIOPA, the Irish Government and the Central Bank of Ireland.
The following have been identified by Insurance Ireland’s members as the key priorities of the association:
- Ensure the global competitiveness of the EU insurance sector and enhance regulatory and supervisory convergence.
- Reflect insurers’ risk mitigation capacity and ability to finance transition towards a more sustainable, diverse and inclusive Europe.
- Create a regulatory framework which allows for innovation and supports an effective mitigation of cyber risks.
Cooperation and collaboration
Insurance Ireland promotes these key priorities through its membership of the European representative body of insurance associations, Insurance Europe, and the Global Federation of Insurance Associations (GFIA). Insurance Ireland also works closely with sister associations across Member States and continents to ensure better outcomes for Irish insurers and their clients.
Ireland for International Financial Services
While the regulatory agenda is the prime focus of activity, Insurance Ireland supports the Irish Government’s IFS 2025 strategy promoting Ireland as a jurisdiction for international financial services. With the Banking and Payments Federation of Ireland, Financial Services Ireland and Irish Funds, Insurance Ireland reinforces the messages why Ireland is an idea hub for organisations seeking a European base with its open economy, talented and experienced workforce and developed infrastructure.
For more information on Insurance Ireland’s activity, please see the latest edition of the Insurance Ireland In Europe brochure or contact us email@example.com.
Head of European Affairs and International Insurance
Insurance Ireland Brussels