The ability to provide insurance products on a pan-EU basis has been a crucial driver of the growth of the IFSC.
- The International insurance sector is a major contributor to the Irish economy with around €200 Billion in assets under management and employs some 27,000 people.
- The vast majority of insurance firms in Ireland are involved exclusively in cross-border insurance.
- The majority of life business written from Ireland is investment driven, with relatively limited mortality risk.
- On the non-life side, Ireland has developed itself as a leading centre for both captive (where the re-insurance is linked to the risks of only one company) and non-captive re-insurance, and more recently as a hub for pan-European groups that are consolidating their activities in advance of the introduction of Solvency II.