Research and Markets has compiled a report on reinsurance in Ireland, which finds that reinsurance recorded an overall compound annual growth rate of 14.7 percent during the review period between 2008 and 2012.
Ireland has a developed international insurance and reinsurance industry, with many of the world's leading insurers and reinsurers operating in the country.
Ireland's double taxation treaties with many leading industrialised nations, as well as its favourable tax environment, have made it a leading global destination for captive insurance.
During the review period the country's reinsurance segment registered varying annual growth rates due to the adverse impact of the global financial and European debt crises.
Irish reinsurance revenues are primarily generated from the non-life and personal accident and health segments, with Irish non-life insurers ceding 22.4 percent of their written premium and personal accident and health insurers ceding 38 percent to reinsurers in 2012.
This was due to increased regulatory compliances and the forthcoming Solvency II directives which are expected to be implemented by 2016. The regulatory compliances brought increased capital requirements leading to high demand for reinsurance services.
