The Irish international re/insurance association DIMA, has reported a record year of premium growth for its membership as Dublin continues to attract new capacity and companies.

In recent weeks broker Willis has said it will redomicile to Ireland from Bermuda and the annually-produced DIMA membership statistics show that gross written premiums for 2008 reached €26.2bn, with net premiums increasing to €21.7bn.

Sarah Goddard, CEO of DIMA, said: “Despite the general turmoil last year in the international financial services sector, re/insurance substantially has proved resistant to the tribulations affecting other areas and shown its overall resilience as an industry. In Dublin’s 20thyear as an international re/insurance hub, these statistics show that the market is truly established as a leading centre for the industry. We continue to see new companies set up operations in Dublin, and the majority of companies already established here expect to see growth in their business over the course of this year.”

DIMA’s statistics show that the total assets of its membership stands at €65.1bn with a total capital and surplus of €12.4bn.

The DIMA company membership stands at 61, employing 876 staff and with total cash and investments of €36.2bn.

Commenting on DIMA’s findings, Barry O’Leary, IDA, CEO said, ‘’Another year of premium growth in DIMA membership is a welcome reflection of the resources the Irish Government with the support of IDA Ireland have dedicated to attracting investment in the International Services Sector to Ireland. Ireland continues to grow as a leading centre for international financial service activities and IDA looks forward to continuing to work with DIMA to avail of future opportunities in the international re/insurance industry.”