Our inaugural Ireland Underwriting Ratings has named Allied World (Europe) as the best Irish insurer with a score of 78%.
Allied World (Europe) is joined on this year’s list of Gold Award winners by NEIL Overseas with a score of 76%, PartnerRe (Ireland) (75%), Travelers (Ireland) (74%), and Advent Insurance (73%).
Based on our proprietary formula, the research rates every Irish-regulated insurer across three key metrics to assess underwriting performance – COR, aggregate COR over the last three years, and the improvement in the COR for the most recent year.
The research found that overall underwriting performance for Irish insurers stood at 63% for 2023.
This is slightly below the aggregate score for UK insurers at 64%, but Irish insurers are still some 13 percentage points ahead of their Gibraltarian counterparts, with Gibraltar-regulated insurers receiving an average Underwriting Rating of 51%.
Underwriting Ratings for all Ireland, UK, and Gibraltar-regulated insurers are available through the Insurance DataLab market intelligence platform, with scores broken down by business line. The platform also includes performance metrics covering customer experience, complaints handling, and financial results for UK MGAs and broking firms.
Register for a free 7-day trial here.
