Insurance companies made €176m in profit in 2022

During 2022, there were 318,000 policies covering employer’s liability insurance, public liability insurance, and commercial property insurance, report shows

In total, insurance companies, that provide liability insurance to businesses, took in €1.29bn in premiums during 2022 — an increase from the €1.1bn in 2021.

Insurance companies providing employer’s liability and public liability cover to Irish businesses made a combined operating profit of €176m in 2022 after taking in nearly €1.3bn in premiums, a new report by the Central Bank shows.

According to the report, during 2022 there were 318,000 policies covering employer’s liability insurance, public liability insurance, and commercial property insurance. The majority of these policies in 2022, 86%, were taken out as part of a package policy.