Insurance Corporations Statistics – Q4 2022

Publication date:  10 March 2023

Key Points

• Total assets of the Irish insurance corporation sector fell by 0.4 percent (€1.6 billion) during Q4 2022 to stand at €387 billion.  This is a levelling off of the recent trend, with assets down 9 percent on the series high of €425 billion at end-2021. However, equities and investment funds rose by 2.6 percent and 2.3 percent respectively on the quarter.
• Similarly, technical reserve liabilities decreased in Q4 2022, falling by 0.2 percent (€800 million) over the quarter and 10.5 percent (€38.2 billion) over 2022. ¹ Non-life insurance technical reserves, while up 7 percent on Q4 2021 have fallen 10 percent since Q3 2022.
• As interest rates have risen since Q4 2021, non-unit linked life ITR liabilities have fallen by 20 percent, while debt security assets have fallen by 7 percent over the same period. The value of derivative liabilities continue to exceed the value of derivative assets, although to a lesser extent than in Q3 2022.

Summary Charts

Chart 1:  Assets of Irish insurance corporations 

Chart 2: Liabilities of Irish insurance corporations 

Chart 3: Developments in debt security assets, non-unit linked life ITR liabilities and derivative assets less liabilities 

[1] In the insurance corporation context insurance technical reserves (ITRs) are liabilities relating to claims on (re)insurance corporations or assets relating to claims by (re)insurance corporations on reinsurance corporations.

Related Data Sets

Download the Insurance Corporation Statistics tables in CSV format.