Insurance Ireland names Michael Leahy, managing director at Prudential International Assurance, as its president for the 2026-2027 term, with the announcement made at the organisation's 40th Annual President's Lunch in Dublin. Leahy has led Prudential International Assurance since 2010, having previously served as CEO Ireland at Standard Life from 2004 to 2008. He takes on the presidency at a milestone year for Insurance Ireland, which marks four decades as the representative body for the Irish insurance industry. Speaking ahead of the lunch, Leahy says: "It's an honour to take on the role of President. I look forward to working with colleagues across the industry to support its continued growth, innovation and resilience." Robert Troy, Minister of State at the Department of Finance with responsibility for Financial Services, Credit Unions and Insurance, addresses the event as special guest. Troy highlights the continued growth of specialty insurance and the importance of supporting innovation across insurtech and regtech, citing recent CSO figures as evidence of progress, while cautioning that the industry must not be complacent. He also calls for transparency to be genuinely experienced by consumers and for continued collaboration on climate-related risk, flood insurance and the right to be forgotten, which allows individuals who have recovered from serious illness to access insurance without declaring their medical history. The event also recognises Ciara Whooley, marking 40 years of service with Insurance Ireland. Ireland is widely regarded as a significant hub for international reinsurance and captive business. Insurance Ireland represents more than 119 members across life and pensions, general, health and reinsurance sectors, with the industry employing over 43,000 people in the country. Irish-based insurers pay €74 billion in claims in 2024, up from €68 billion the previous year, and manage more than €300 billion in policyholder assets. The sector contributes more than €3 billion to the Irish Exchequer each year. Insurance Ireland describes Ireland as the fourth-largest insurance market in the European Union and a leading provider of cross-border insurance services across the bloc.
