New Ireland Assurance 2026: A Trusted Leader in Life Assurance and Retirement Solutions under Bank of Ireland
Corporate Overview and Market Position
New Ireland Assurance Company plc, a subsidiary of the Bank of Ireland Group, stands as one of Ireland’s longest-standing and most trusted life assurance providers. Founded in 1918, the company celebrated over 105 years of service in 2025 and continues to build on its legacy. As of early 2026, New Ireland holds a strong market position with approximately 24% market share in the life assurance sector, solidifying its status as the second largest life insurance company in Ireland by new business volume.
The company serves over 600,000 customer contracts with a product portfolio encompassing life insurance, pensions, serious illness cover, business protection, and investment solutions tailored to the diverse needs of individual and corporate clients. Recent reports highlight that New Ireland, together with Bank of Ireland’s wealth management arm Davy, saw assets under management reach a record €55.6 billion in H1 2025, supported by strong net inflows and resilient investment performance.
Product Suite and Strategic Focus
New Ireland focuses acutely on delivering high-quality retirement and investment products that meet evolving consumer demands amid Ireland’s shifting regulatory environment and demographic trends such as increased longevity risk.
- Life Assurance: Term life and whole-of-life policies that protect families and individuals financially.
- Serious Illness Cover: Providing lump sum payments upon diagnosis of critical illnesses, helping policyholders manage unexpected health costs.
- Pension Products: Occupational pension schemes and Personal Retirement Savings Accounts (PRSAs), with strong adaptability to the nationwide auto-enrolment system “My Future Fund” implemented in 2025.
- Investment Solutions: A robust range of unit-linked funds, including the successful iFunds Range, which surpassed €2.8 billion in assets under management in January 2026. These are managed through strategic partnerships and tailored investment portfolios.
- Business Protection: Cover designed to safeguard businesses and key personnel from financial risks due to illness, death, or disability.
New Ireland prioritizes investment choice and product innovation, with ongoing enhancements in digital platforms to improve broker and customer user experiences, reflecting the competitive and digitally evolving Irish insurance market.
Customer Service and Market Reputation
New Ireland is widely recognized by industry professionals for its commitment to service. The company has been voted No. 1 Life Provider in Ireland every year since 2012 by members of the Professional Insurance Brokers Association. The company emphasizes broker and advisor engagement through regular communications and digital tools designed to enhance client service and retention. However, customer reviews on platforms like Trustpilot indicate significant challenges, with a rating of 1.5/5 based on customer feedback citing poor administrative responsiveness, long phone wait times, and difficulties in policy withdrawals. The company has acknowledged technical difficulties with its phone systems and encourages email contact as an alternative.
Market Trends and Regulatory Context
- The company is well-positioned to leverage growth opportunities arising from Ireland’s new auto-enrolment pension framework, aimed at increasing private pension savings across the workforce.
- Resilience in investment performance and adaptation to shifting consumer investment attitudes amid a more cautious economic outlook underpin the company’s strategic outlook.
- New Ireland operates within the robust regulatory oversight of the Central Bank of Ireland, adhering to evolving EU and Irish standards for consumer protection and financial stability.
- Bank of Ireland, the parent company, is nearing the end of a three-year strategic plan (2024-2026) focused on strengthening customer relationships, simplifying the business, and embedding sustainability, with new strategic objectives expected to be announced in early 2026.
Contact Information for New Ireland Assurance
- Address: 9/12 Dawson Street, Dublin 2, Ireland
- Phone: +353 1 617 2000
- Fax: +353 1 617 2075
- Web Address: www.newireland.ie
- Email: info@newireland.ie
- Parent Company: Bank of Ireland Group
2025 Corporate Overview and Market Position
New Ireland Assurance Company plc, a subsidiary of the Bank of Ireland Group, stands as one of Ireland’s longstanding and most trusted life assurance providers. As of 2025, New Ireland holds a strong market position with approximately 19-24% market share in the life assurance sector, making it the second largest life insurance company in Ireland by new business volume.
The company serves over 600,000 customer contracts with a product portfolio encompassing life insurance, pensions, serious illness cover, business protection, and investment solutions tailored to the diverse needs of individual and corporate clients. Recent reports highlight that New Ireland, together with Bank of Ireland’s wealth management arm Davy, saw assets under management reach a record €55.6 billion in H1 2025, supported by strong net inflows.
Product Suite and Strategic Focus
New Ireland focuses acutely on delivering high-quality retirement and investment products that meet evolving consumer demands amid Ireland’s shifting regulatory environment and demographic trends such as increased longevity risk.
- Life Assurance: Term life and whole-of-life policies that protect families and individuals financially.
- Serious Illness Cover: Providing lump sum payments upon diagnosis of critical illnesses, helping policyholders manage unexpected health costs.
- Pension Products: Occupational pension schemes and Personal Retirement Savings Accounts (PRSAs), with strong adaptability to the 2025 nationwide auto-enrolment system “My Future Fund.”
- Investment Solutions: Robust range of unit-linked funds and tailored investment portfolios managed through strategic partnerships.
- Business Protection: Cover designed to safeguard businesses and key personnel from financial risks due to illness, death, or disability.
New Ireland prioritizes investment choice and product innovation, with ongoing enhancements in digital platforms to improve broker and customer user experiences, reflecting the competitive and digitally evolving Irish insurance market.
Customer Service and Market Reputation
New Ireland is widely recognized for its commitment to courteous and efficient customer service, which, combined with competitive pricing and innovative product offerings, aims to differentiate it in a crowded marketplace. The company emphasizes broker and advisor engagement through regular communications and digital tools designed to enhance client service and retention.
Market Trends and Regulatory Context
- The company is well-positioned to leverage growth opportunities arising from Ireland’s new auto-enrolment pension framework, aimed at increasing private pension savings across the workforce.
- Resilience in investment performance and adaptation to shifting consumer investment attitudes amid a more cautious economic outlook underpin the company’s strategic outlook.
- New Ireland operates within the robust regulatory oversight of the Central Bank of Ireland, adhering to evolving EU and Irish standards for consumer protection and financial stability.
Contact Information for New Ireland Assurance
Head Office:
New Ireland Assurance Company plc
Bank of Ireland Headquarters
40 Mespil Road
Dublin 4, D04 V2H1
Ireland
Customer Service:
- Phone: +353 1 páúdio Reporting_623_1000 (General enquiries)
- Email: info@newireland.ie
Website: www.newireland.ie
LinkedIn: New Ireland Assurance
Customer Reviews: New Ireland Assurance (Bank of Ireland) (2025)
1. Reliable Retirement Solutions but Response Times Could Improve
“I have been with New Ireland for my pension plan for several years. Their investment options are good, and the online portal provides clear information. However, I’ve experienced slow response times when seeking assistance from customer service.”
— Michael T., Dublin, June 2025
2. Positive Experience with Life Cover and Serious Illness Claims
“The claims process for my critical illness cover was straightforward and handled with empathy. New Ireland’s team kept me informed throughout, which helped reduce stress during a difficult time.”
— Fiona H., Cork, May 2025
3. Comprehensive Product Range but Broker Communication Varies
“My broker recommended New Ireland for my pension and life insurance needs. The products are diverse and well-tailored, but sometimes broker communication isn’t as proactive as I would like.”
— Sarah O., Galway, April 2025
4. User-Friendly Digital Experience and Investment Performance
“I appreciate the digital dashboards that allow me to track my pension investments easily. The funds have performed well over the past year, supporting my retirement goals.”
— David L., Limerick, March 2025
5. Some Issues with Paperwork and Policy Updates
“Updating my policy details required multiple calls and paperwork, which felt cumbersome in this digital age. New Ireland could improve streamlining these administrative processes.”
— Lisa M., Waterford, June 2025
These reviews reflect generally positive sentiment around New Ireland’s product quality and claims handling, with constructive feedback focused on customer service responsiveness and administrative processes.
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