Healthy return for New Ireland Life Assurance
LAST year was a good period for New Ireland Life Assurance, whose investments earned a healthy return after losing €200m the year before.
The company, a subsidiary of Bank of Ireland, primarily makes its money from selling life assurance, pensions and other investment products to Irish customers.
Led by chief executive Sean Casey, it earned €1.4bn on its pool of investments in 2012 because of improvements in global equity and bond markets compared to a €200m loss in 2011.
Newly filed accounts show it paid out €1.74bn in claims, slightly more than the €1.65bn in income that its insurance policies generated.