Tuesday, 10 June 2014

Questions (160)

Michael McGrath

Question:

160. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 81 of 30 April 2014, if he will provide a list of the 744 insurance firms that are regulated in Ireland for conduct of business rules specifying, of those 744, the 45 which are prudentially regulated in Ireland and write Irish risk; if he will further specify the 67 which are prudentially regulated in Ireland and do not write Irish risk; and if he will make a statement on the matter. [24267/14]

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Written answers (Question to Finance)

The Central Bank of Ireland maintains registers of authorised financial service providers which can be found at; http://registers.centralbank.ie/DownloadsPage.aspx.

A requested list of the 744 insurance firms that are regulated in Ireland for conduct of business rules is titled "Non-Life Undertakings operating on a Freedom of Services Basis as at 08 May 2014" and can be found under the heading "Register of Life and Non-Life Insurance Undertakings".

The latest public data in relation to insurance firms writing general and motor insurance risk in Ireland and risk elsewhere was published in 2013 in the Central Bank Insurance Statistics. The details of these firms are below. The latest data is currently being compiled by the Central Bank based on returns from the various insurance companies and will be published in the coming months.

The 45 firms which are prudentially regulated in Ireland and write Irish risk are;

Allianz plc

Allied World Assurance Company (Europe) Limited

Amtrust International Underwriters Ltd

Aviva Health Insurance Ireland Limited

AXA Insurance Ltd

Axis Specialty Europe SE

BMS International Insurance Company Ltd

Canterbury Insurance Ltd

Carraig Insurance Limited

CODEVE Insurance Company Limited

Coromin Insurance (Ireland) Ltd

Cuna Mutual Insurance (Europe) Ltd

DeCare Dental Insurance Ireland Ltd

Electric Insurance Ireland Limited

Euro Insurances Limited

FBD Insurance Plc

GD Insurance Company Limited

Golden Arches Insurance Limited

Great American International Insurance Limited

Irish Dairy Board Insurance Limited

Irish Public Bodies Mutual Insurances Limited

Ironshore Europe Limited

Kingfisher Insurance Limited

Liberty Insurance Limited

Lifeguard Insurance (Dublin) Limited

Markel Europe plc

Navillus Insurance Company Limited

New Technology Insurance

Noble Insurance Company Limited

Pan Insurance Limited

PartnerRe Ireland Insurance Limited

PI Indemnity Company Limited

Pine Indemnity Limited

Quinn Insurance Limited (under administration)

Red Disk Insurance Company Limited

RSA Insurance Ireland Limited

Seamair Insurance Limited

Societe D'Assurance Generales Appliquees (SAGA) Ltd

UK General Insurance (Ireland) Limited

UPS International Insurance Limited

Valiant Insurance Company Limited

Volkswagen Insurance Company Limited

Western Captive Insurance Company Limited

White Horse Insurance Ireland Limited

Zurich Insurance plc

The total number of firms which are prudentially regulated in Ireland and do not write Irish risk is composed of 49 firms which only wrote foreign risk premiums and 15 firms which did not write any new business in 2012, giving a total of 64 firms. This information is published by the Central Bank only on an annual basis in the Insurance Statistics and was last published on 3 December 2013.

Since then there has been an increase in the total number of firms to 67 and this was the number provided in reply to Parliamentary Question No. 81 of 30 April 2014.  This information was provided by the Central Bank on an anonymised basis, as the Central Bank only publishes the names of firms on an annual basis in the Insurance Statistics. The revised list of firms is expected in October 2014.

The 49 firms which are prudentially regulated in Ireland and wrote only foreign risk are;

Acadia International Insurance Limited

Accent Europe Insurance Company Limited (under administration)

ACE Bermuda International Insurance (Ireland) Limited

Aetna Health Insurance Company of Europe Limited

Allianz Worldwide Care Limited

Alreford Limited

Arbor Property & Casualty Ireland Ltd

Arch Mortgage Insurance Limited

ATC Insurance Ireland Limited

Barclays Insurance (Dublin) Limited

CACI Non-Life Limited

Carrefour Insurance Limited

Catalina Insurance Ireland Limited

Chartis Excess Limited

Classic Brand (Europe) Limited

ENI Insurance Limited

Equinox CA Europe Limited

Esprit Insurance Ltd

European Insurance Risk Excess Ltd

FDI Insurance Ltd

Greenval Insurance Company Limited

Hitachi Capital Insurance Europe Limited

INEOS Insurance Limited

KPN Insurance Company Ltd

Martinsurance Teoranta

MBDA Insurance Limited

Medical Insurance Company Limited

MetLife Europe Insurance Limited

Miripro Insurance Company Ltd

National Grid Insurance Company (Ireland) Ltd

Newell Insurance Limited

NEWWATER INSURANCE LIMITED

Nokatus Insurance Company Ltd

Orkla Insurance Company Ltd

Overseas NEIL Limited

Petroswede Insurance Company Limited

Pharma International Insurance Limited

Philip Morris International Insurance (Ireland) Limited

PMI Mortgage Insurance Company Limited

Preem Insurance Company Limited

Probus Insurance Company Europe Ltd

RSIF International Limited

Santander Insurance Europe Limited

Sasol International Insurance Ltd

TCS Insurance Company of Ireland Ltd

The Baxendale Insurance Company Ltd

Vishay Insurance Ltd

Wagram Insurance Company Limited

Yara Insurance Ltd

The 15 firms which are prudentially regulated in Ireland and did not write any new business in 2012 are;

Baltimore Insurance Ltd

Bavaria Insurance Company Ltd

Beech Hill Insurance Limited

CBL Insurance Europe Limited

Delphi Insurance Limited

Deutsche Post Insurance Ltd

Dornoch International Insurance Limited

Inveralmond Insurance Limited

Irish Permanent Property Company Limited

Nautilus Insurance (Europe) Limited

Standard Trane Insurance Ireland Ltd

Tetra Laval Insurance Company Ltd

Trans-Europe Assurance Limited

W.T.C.D. Insurance Corporation Limited

XERON INSURANCE