Ireland has maintained its position as the largest cross-border life assurance centre according to a survey of 2004 figures, writes DUNCAN ROBERTSON, who says that this growth was driven by tax changes in Germany. A fall-off in this business in 2005 however, could see the Isle of Man regain some ground.

Although the volume of life insurance products distributed via the internet in Europe remains low, the internet has already significantly changed the way that many independent distributors work, and in particular their relationships with product providers, write VALÉRIE LOIZILLON and PAUL ERNEST.

Ireland has held on to the top spot for cross-border life assurance business in 2003 after emerging as the favoured location in 2002. DUNCAN ROBERTSON writes that Ireland owes its success to a move away from its former reliance on business from a limited number of sources.

Last year was another good year for the cross-border life insurance sector, with total assets growing by 21 per cent, from €15.9 billion to €19.3 billion and premium income of over €5.5 billion. Moreover, the solvency position for the sector at end 2003 was very healthy, writes PADRAIC O’MALLEY.

When global insurance giant Generali looked for an Irish base from which to deliver products into the EU, Navan, Co. Meath, wasn’t an obvious choice. But the foresight in choosing this modern and accessible site, away from the busy capital, has paid rich dividends, writes BRENDAN MCCARTHY in this company profile.

Ireland’s developing cross-border life assurance business is concentrated on Italy and the UK, unlike its close competitor Luxembourg, which is dependent on a greater number of countries – Belgium, UK, France & Germany - for its business. And unlike Luxembourg, which saw gross premiums fall by 1 per cent in 2002, Ireland’s international life sector continues to grow writes PETER SCOTT.

Irish Progressive Services International (IPSI), the Dublin based provider of third party services to life assurers, has been awarded the ‘Irish Italian Business of the Year Award’ by the Irish Italian Business Association.

Three new life assurance companies have been established in Ireland since the start of the year, bolstering Ireland’s position as the domicile of choice for European cross-border insurance business.

Skandia Life Ireland, the Dublin based life assurance company, is to target the Belgian, Dutch and Spanish markets with the launch of three portfolio accounts.

While the international life industry in Dublin has been a great success story it must not rest on its laurels, and must broaden its product range in order to survive and thrive writes David Fagan.

After a somewhat sluggish 18 months in terms of new life company start-ups, a fresh momentum seems to have developed as evidenced by the wave of recent new entrants to the market, with yet more in the pipeline, writes MICHAEL CULLIGAN.

Royal Skandia, one of the Isle of Man’s largest insurance companies, is to buy Royal & SunAlliance Eurolife (R&SAE), the Dublin based life assurance operation which has been closed to new business since last August.

The Irish international life assurance business wrote e5.6 billion of new premiums in 2001, an increase of 4.8 percent on 2000, according to the Insurance Annual Report - ‘The Blue Book’ - published by the Department of Enterprise, Trade and Employment (DETE) in December 2002.

JIM MURPHY examines what factors have contributed to Dublin’s success as a center for life assurance business to date and finds that these success factors are still very much in existence today.

Life assurance business is booming in Ireland and Peter Scott says it is now challenging Luxembourg for the top spot in the cross-border life assurance market.

Scottish Equitable International has launched two new products from its Dublin office and added three cash fund options to its existing money market portfolio product, which it launched last August.

Canada Life, the Canadian life assurer, is to buy the Irish-based German life operations of Prudential plc for E129 million to position itself as one of the top five companies in the German broker market and the market leader in serious illness.

SHANE BUCKLEY and LORRAINE BRESNAN examine the benefits to investors of appointing a multi-manager to select the best managers, and then blending these managers together in fund options from which they can choose.