Insurance Corporations Statistics – Q4 2019

Publication date: 06 March 2020 

Key Points

  • Insurance technical reserves and related claims increased on the asset side of the balance sheet to stand at €49.4 billion in Q4 2019, representing an 89% increase since the same period last year.
  • On the liability side; non unit-linked technical reserves increased by 5 percentage points over the year to now account for 18 per cent of total reserves held by Irish insurance corporations (ICs).

Insurance technical Reserves

 

Summary Charts

Chart 1: Life insurance technical reserves* (ITRs) have grown throughout 2019 after falling over the previous year

Chart 1

Chart 2: The value of Irish ICs insurance technical reserves & related claims holdings increased by 89 per cent from last year. The biggest quarterly change was seen between Q4 2018 to Q1 2019, relating largely to a change in population composition

Chart 2

ITRs are a liability on the balance sheet of an IC as they are the funds an IC holds in reserve to cover their estimated claims. These are different to the asset insurance technical reserves & related claims.

Related Data Sets

Download the Insurance Corporation Statistics tables in CSV format.

Insurance Corporation Statistics | xls 50 KB Explanatory Notes - Insurance Statistics | pdf 334 KB