IPB Insurance today announced a strong set of full year financial results for 2025 at its 100th Annual General Meeting, held in the Mansion House, Dublin, marking the centenary of Ireland’s only indigenous mutual general insurance company.

For the year ended 31 December 2025, IPB delivered a surplus before tax of €52.0 million, underpinned by a positive underwriting outcome and a strong investment performance of €41.6 million. Gross Written Premium (GWP) increased to €179.9 million, reflecting a disciplined underwriting approach while continuing to support Members through competitive pricing and enhanced cover. The Net Combined Operating Ratio (NCOR) was 92.2%, representing a more normalised operating result compared with 2024 and reflecting higher weather-related claims activity during the year, most notably from Storm Éowyn.

While Storm Éowyn resulted in a significant increase in property damage claims, IPB’s prudent reserving practices and robust reinsurance programme limited the overall financial impact, enabling the Company to deliver a positive underwriting result and maintain a very strong capital position, with solvency coverage of approximately 2.7 times regulatory requirements.

IPB operates a unique circular economic business model whereby all surpluses generated are retained within the mutual and reinvested for the benefit of its public body, State and semi-State Members, keeping money in Ireland and delivering lasting value to communities across the country.

Speaking at the AGM, John Kearns, Chief Executive Officer of IPB Insurance, said:
“IPB delivered another strong and resilient financial performance in 2025, generating a surplus of €52 million despite a more challenging claims environment driven by Storm Éowyn. Our results reflect the strength of our mutual model, disciplined underwriting and a robust investment strategy, while continuing to return tangible value to Members and customers through distributions, competitive pricing and enhanced service. Maintaining strong solvency allows us to support our Members with confidence, invest for the long term and remain resilient in a changing risk environment.”

As part of its centenary celebrations, IPB also announced a €3.1 million Local Environmental Action Fund, funded and delivered in partnership with its local authority Members, supporting community and voluntary environmental initiatives nationwide. The fund marks the first anniversary of the national Tidy Towns insurance scheme, under which all eligible Tidy Towns groups are now provided with insurance cover at no cost, removing a significant financial and administrative burden from volunteers. The announcement reinforces IPB’s longstanding commitment to reinvesting resources for public benefit and strengthening community resilience in collaboration with its Member organisations.

Addressing Members, John Hogan, Chair of IPB Insurance, said:
“Our centenary is a moment to reflect on the enduring relevance of IPB’s founding purpose, to ensure essential insurance protection is delivered in Ireland, for Ireland. As the State’s only 100% Irish-owned insurer and its only indigenous mutual general insurer, IPB exists solely to serve its Members and customers, with no external private shareholder interest. The continued strength of our financial performance and exceptionally high levels of Member engagement demonstrate the value of the mutual model, built on trust, partnership and long-term stewardship.”