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History
History Our Company
History
IPB is a mutual non-life insurer, regulated by the Central Bank of Ireland which has been insuring risk in Ireland since its establishment arising out of an Act of the Oireachtas in 1926.
IPB was founded initially to insure local and health authorities soon after the foundation of the State and has since grown to become a leading provider of general insurance cover to the local authorities, public bodies, and State Agencies.
IPB was founded initially to insure local and health authorities soon after the foundation of the State and has since grown to become a leading provider of general insurance cover to the local authorities, public bodies, and State Agencies.
IPB is an experienced underwriter of large liability, property and motor risks, and counts as its clients some of the largest organisations in the State, both in the public and private sector across a diverse range of businesses and activities.
IPB is a Mutual Company. Ownership and control of the Company is vested in insuring members. Each member is represented at General Meetings of the Company by a nominee. The Board of Directors of IPB is comprised of a blend of member representatives, elected by nominees at each Annual General Meeting, and by independent non-executive directors with a background in financial services and top level management.
IPB has no shareholders and uses its investment income to offset any underwriting losses sustained and to pay claims. If surpluses arise, they remain within the Company for the benefit of all members which may, if and when appropriate, result in a dividend payment to members.
IPB is fully Irish owned and managed, and is a Standard & Poor’s rated insurer (BBB+) with excellent financial strength, well capitalised and prepared for the enhanced requirements of Solvency II
