Monday 24 July 2017

Bank of Ireland's life insurance business on par with Zurich as market share grows

Laura Noonan

Laura Noonan

BANK of Ireland's on-the-market life insurance business grew its market share to 21pc last year, making it Ireland's second biggest life insurer.

The 2011 result for New Ireland/Bank of Ireland (Life) is two percentage points better than the insurer's share of new business sales in 2010.

Full details of the performance of the life insurance business will be unveiled with Bank of Ireland's results in early April, but the Irish Independent understands the life insurer grew sales by 1pc last year.

The performance put BoI's life operation on par with rapidly growing Zurich, which also grew sales by 1pc last year against a market-wide fall of 6pc.

BoI maintains a lead as the second biggest life insurance company in the country, with its 21pc market share marginally outstripping Zurich's 19pc.

Irish Life is believed to have comfortably retained the top spot, but a spokeswoman yesterday declined to reveal the life insurer's 2010 performance, pointing to next Wednesday's full-year results announcement.

Irish Independent

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