Insurance - Central Bank of Ireland data reveal average motor premium is €478

Davy Research
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The Central Bank of Ireland’s (CBI) latest Consumer Protection Bulletin, which focuses on motor insurance, reveals that there were 2.1m live motor insurance policies in force at end-2016. It puts related total premiums at c.€1bn, implying €478 per policy. CSO data show that the year-on-year growth rate has moderated steadily from a peak of 38.6% in June 2016 to 0.7% in March 2017 after three flat months. Data on claims will be useful; in this respect, the CBI recently confirmed that it is working with the Department of Finance and other stakeholders to define key aggregated statistical data on motor claims “for publication in the near future”.