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2018 Insurance and Actuarial Permanent Salary Guide

Insurance Salary Guide

11-01-2018
Submitted by Anonymous (not verified) on Thu, 01/11/2018 - 05:33
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Insurance & actuarial salary ranges for 2018 in Ireland including salaries in general insurance, life assurance, reinsurance, captive and more.

Contents:

General Insurance Salaries  |  Life Assurance Salaries  |  Reinsurance Salaries  |  Product Development Salaries  |  Actuarial Salaries

Commentary on Insurance & Actuarial Permanent Roles and Remuneration in Ireland for 2018

Insurance Perm

General Insurance Salaries

Role Years' Experience Dublin
Cork
Limerick
Waterford
Galway
Personal Lines Manager 0 - 3 40k - 45k 35k - 40k 33k - 35k 33k - 35k 33k - 35k
3 - 5 45k - 60k 40k - 55k 35k - 40k 35k - 40k 35k - 40k
5+ 60k - 70k 55k - 60k 40k - 50k 40k - 50k 40k - 50k
Personal Lines Team Leader 0 - 3 38k - 42k 30k - 34k 28k - 34k 28k - 34k 28k - 34k
3 - 5 42k - 48k 34k - 40k 34k - 38k 34k - 38k 34k - 38k
5+ 48k - 55k 40k - 45k 38k - 45k 38k - 45k 38k - 45k
Personal Lines Administrator 0 - 3 25k - 28k 20k - 24k 20k - 22k 20k - 22k 20k - 22k
3 - 5 28k - 32k 24k - 30k 22k - 25k 22k - 25k 22k - 25k
5+ 32k - 35k 30k - 35k 25k - 30k 25k - 30k 25k - 30k
Personal Lines Underwriter 0 - 3 26k - 32k 25k - 30k 22k - 25k 22k - 25k 22k - 25k
3 - 5 32k - 36k 30k - 35k 25k - 28k 25k - 28k 25k - 28k
5+ 36k - 42k 35k - 40k 28k - 32k 28k - 32k 28k - 32k
Commercial Manager 0 - 3 45k - 55k 40k - 50k 35k - 40k 35k - 40k 35k - 40k
3 - 5 55k - 60k 50k - 55k 40k - 45k 40k - 45k 40k - 45k
5+ 60k - 70k 55k - 60k 45k - 50k 45k - 50k 45k - 50k
Commercial Account Handler 0 - 3 32k-42k 30k - 35k 30k - 35k 30k - 35k 30k - 35k
3 - 5 42k - 50k 35k - 45k 35k - 40k 35k - 40k 35k - 40k
5+ 50k - 60k 45k - 50k 40k - 50k 40k - 50k 40k - 50k
Commercial Underwriter 0 - 3 35k - 45k 35k - 45k 35k - 45k 35k - 45k 35k - 45k
3 - 5 45k - 55k 45k - 55k 45k - 50k 45k - 50k 45k - 50k
5+ 55k - 75k 55k - 70k 50k - 60k 50k - 60k 50k - 60k
Business Development
Underwriter
0 - 3 50k - 70k 45k - 65k 42k - 62k 42k - 62k 42k - 62k
3 - 5 70k - 90k 65k - 70k 62k - 70k 62k - 70k 62k - 70k
5+ 90k - 100k 70k - 90k 70k - 85k 70k - 85k 70k - 85k
Head of Claims 0 - 3 50k - 70k 45k - 65k 45k - 60k 45k - 60k 45k - 60k
3 - 5 70k-120k 65k - 110k 60k - 80k 60k - 80k 60k - 80k
5+ 120k - 130k 110k - 120k 80k - 100k 80k - 100k 80k - 100k
Claims Handler 0 - 3 25k - 30k 20k - 28k 20k - 25k 20k - 25k 20k - 25k
3 - 5 30k - 45k 28k - 40k 25k - 30k 25k - 30k 25k - 30k
5+ 45k - 55k 40k - 50k 30k - 35k 30k - 35k 30k - 35k
Loss Adjuster 0 - 3 30k - 50k 25k - 45k 25k - 45k 25k - 45k 25k - 45k
3 - 5 50k - 70k 45k - 65k 45k - 60k 45k - 60k 45k - 60k
5+ 70k - 85k 65k - 75k 60k - 75k 60k - 75k 60k - 75k
Operations Manager 0 - 3 65k - 80k 60k - 75k 60k - 75k 60k - 75k 60k - 75k
3 - 5 80k - 100k 75k - 95k 75k - 95k 75k - 95k 75k - 95k
5+ 100 - 120k 95k - 110k 95k - 105k 95k - 105k 95k - 105k
 

Life Assurance Salaries

Role Years' Experience Dublin
Cork
Limerick
Waterford
Galway
Operations Manager 0 - 3 65k-80k 60k - 75k 50k - 60k 50k - 60k 50k - 60k
3 - 5 80k-100k 75k - 90k 60k - 75k 60k - 75k 60k - 75k
5+ 100k-120k 90k - 100k 75k - 85k 75k - 85k 75k - 85k
Underwriting Manager 0 - 3 50k-65k 45k - 60k 40k - 45k 40k - 45k 40k - 45k
3 - 5 65k-80k 60k - 75k 45k - 60k 45k - 60k 45k - 60k
5+ 80k-95k 75k - 80k 60k - 70k 60k - 70k 60k - 70k
Underwriter 0 - 3 30k-40k 25k - 35k 23k - 27k 23k - 27k 23k - 27k
3 - 5 40k-55k 35k - 45k 27k - 35k 27k - 35k 27k - 35k
5+ 55-65k 45k - 50k 35k - 40k 35k - 40k 35k - 40k
Broker Consultant 0 - 3 40k-60k 45k - 60k 30k - 40k 30k - 40k 30k - 40k
3 - 5 60k-75k 60k - 75k 40k - 50k 40k - 50k 40k - 50k
5+ 75k-80k 75k - 80k 50k - 55k 50k - 55k 50k - 55k
Pensions Manager 0 - 3 60k-70k 55k - 65k 50k - 60k 50k - 60k 50k - 60k
3 - 5 70k-80k 65k - 75k 60k - 70k 60k - 70k 60k - 70k
5+ 80k-100k 75k - 85k 70k - 80k 70k - 80k 70k - 80k
Pensions Consultant 0 - 3 50k-70k 45k - 65k 45k - 60k 45k - 60k 45k - 60k
3 - 5 70k-90k 65k - 85k 60k - 80k 60k - 80k 60k - 80k
5+ 90k-100k 85k - 95k 80k - 90k 80k - 90k 80k - 90k
Pensions Administrator 0 - 3 25k-35k 23k - 32k 23k - 30k 23k - 30k 23k - 30k
3 - 5 35k-45k 32k - 40k 30k - 35k 30k - 35k 30k - 35k
5+ 45k-60k 40k - 45k 35k - 43k 35k - 43k 35k - 43k
Life Administrator 0 - 3 25k-35k 22k - 30k 18k - 22k 18k - 22k 18k - 22k
3 - 5 35k-42k 30k - 40k 22k - 26k 22k - 26k 22k - 26k
5+ 42k-48k 40k - 45k 26k - 30k 26k - 30k 26k - 30k
Claims Officer 0 - 3 25k-35k 22k - 28k 20k - 25k 20k - 25k 20k - 25k
3 - 5 35k-42k 28k - 35k 25k - 28k 25k - 28k 25k - 28k
5+ 42k-48k 35k - 40k 28k - 32k 28k - 32k 28k - 32k
Financial Advisor 0 - 3 35k-40k 20k - 30k 20k - 25k 20k - 25k 20k - 25k
3 - 5 40k-50k 30k - 45k 25k - 35k 25k - 35k 25k - 35k
5+ 50k-70k 45k - 50k 35k - 45k 35k - 45k 35k - 45k
 

Reinsurance Salaries

Role Years' Experience Dublin
Cork
Limerick
Waterford
Galway
Reinsurance Underwriter 0 - 3 45k-65k 35k - 55k 30k - 45k 30k - 45k 30k - 45k
3 - 5 65k-100k 55k - 80k 45k - 80k 45k - 80k 45k - 80k
5+ 100k-130k 80k - 110k 80k - 110k 80k - 110k 80k - 110k
Reinsurance Claims 0 - 3 40k-55k 35k - 50k 30k - 40k 30k - 40k 30k - 40k
3 - 5 55k-75k 50k - 70k 40k - 50k 40k - 50k 40k - 50k
5+ 75k-115k 70k - 100k 50k - 70k 50k - 70k 50k - 70k
 

Captive Salaries

Role Years' Experience Dublin
Cork
Limerick
Waterford
Galway
Captive Executive / Underwriter 0 - 3 35k-45k 25k - 40k 25k - 40k 25k - 40k 25k - 40k
3 - 5 45k-65k 40k - 50k 40k - 50k 40k - 50k 40k - 50k
5+ 65k-85k 50k - 60k 50k - 60k 50k - 60k 50k - 60k
 

Product Development Salaries

Role Years' Experience Dublin
Cork
Limerick
Waterford
Galway
Product Specialist 0 - 3 35k-45k 32k - 43k 30k - 40k 30k - 40k 30k - 40k
3 - 5 45k-70k 43k - 53k 40k - 50k 40k - 50k 40k - 50k
5+ 70k-80k 53k - 63k 50k - 60k 50k - 60k 50k - 60k
Product Manager 0 - 3 65k-75k 62k - 68k 60k - 65k 60k - 65k 60k - 65k
3 - 5 75k-85k 68k - 78k 65k - 75k 65k - 75k 65k - 75k
5+ 85k-110k 78k - 105k 75k - 95k 75k - 95k 75k - 95k
 

Actuarial Salaries

Role Years' Experience Dublin
Cork
Limerick
Waterford
Galway
Part Qualified Actuary 0 - 3 40 - 55k 35k - 55k 35k - 50k 35k - 50k 35k - 50k
Part Qualified Actuary 3 - 5 55-70k 55k - 65k 50k - 65k 50k - 65k 50k - 65k
Qualified Actuary 0 - 3 65k-80k 65k - 80k 65k - 80k 65k - 80k 65k - 80k
3 - 5 80k-130k 80k - 110k 80k - 110k 80k - 110k 80k - 110k
Chief Actuary 0 - 3 150k-180k 140k - 165k 140k - 160k 140k - 160k 140k - 160k
3 - 5 180k-250k 165k - 180k 160k - 180k 160k - 180k 160k - 180k
5+ 250k-300k 180k - 250k 180k - 230k 180k - 230k 180k - 230k
 

Commentary on Insurance & Actuarial Permanent Roles and Remuneration in Ireland for 2018

The insurance industry has seen modest improvements in 2017 with the outlook being much the same for the forth coming year.  General insurance companies continue to operate best through online sales resulting in qualified sales agents (APA, CIP) being highly sought after. Many organisations are opting to hire professionals in conjunction with the Insurance Practitioner Apprenticeships that began in September 2016.

Interestingly, while these companies steer customers to their online systems, there is still a demand for sales staff in both inbound and outbound capacities. There are a steady amount of roles being created in this space as insurers and brokers continue to seek experienced underwriters and brokers with valuable connections in the industry. Experienced claims handlers are in demand, particularly those with complex and litigated claims exposure.

Demand for underwriters across commercial and personal lines has remained steady. There has been an increased demand for strong broker development professionals, keeping in line with the resurgence of the broker market. Individuals with strong account management and sales experience have seen a steady increase in opportunities at their disposal. 

2017 again has seen steady demand within life assurance.  Pension administrators and consultants have been sought after, particularly with the larger brokers. Specifically pension administrators with end-to-end experience in either defined benefit or defined contribution schemes. With the phase-out of many defined benefit schemes, there has been higher demand for individuals specific to this. 
 
Both qualified and part-qualified actuarial professionals are in strong demand.  Apart from the general and life assurance businesses we have seen companies in search of qualified actuaries with consultancy experience as they continue to build their actuarial service offering. This is a trend that we expect to continue throughout 2018.

The consolidation of the insurance sector appears to have slowed down allowing more opportunity for businesses to regroup and grow rather than retract its workforce.  This sector has ultimately become a source of growth in Dublin as smaller insurance entities here may use these functions as a base to build out further teams on the back of uncertainty over their HQs in London.

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