Lloyd’s, the world’s oldest insurance and reinsurance market for global risk, and Ireland’s Department of Finance, have partnered to foster insurtech innovation, strengthen market resilience, and promote Irish expertise globally.
A news report from Reinsurance News, an industry-focused online medium, indicated that this collaboration would create a dedicated Irish-themed cohort within the Lloyd’s Lab Accelerator Programme in the first half of 2026.
Established in 2018, the Lloyd’s Lab is a launch pad for scalable innovation, connecting companies with market experts to co-develop insurance solutions, with the Accelerator as its core programme.
According to the news report, the duo have signed a Statement of Intent, which communicates their shared ambition to deepen cooperation, and provide technical assistance to support innovation and growth in the Irish insurance sector.
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In 2024, Ireland, which is one of Lloyd’s largest European markets, recorded €661 million gross signed premium.
The news report hinted that both Lloyd’s and Ireland’s Department for Finance will promote the new programme, share expertise, and provide technical support to ensure the success of the Irish-themed cohort.
Already, the call for applications for the programme will open on December 10, 2025.
Commenting on his firm’s collaboration with Ireland Department of Finance on the programme, Lloyd’s Chief Executive, Patrick Tiernan, said: “We’re proud to partner with Ireland’s Department of Finance to dedicate a future Lloyd’s Lab cohort to Irish innovation. The Lloyd’s Lab sits at the centre of insurance innovation, helping market participants turn emerging risks into actionable solutions.
“This initiative will not only spotlight Ireland’s exceptional insurtech talent but also strengthen the global connections that make our market so unique. Together, we’re creating a platform for commercially viable ideas that can enhance resilience, unlock new premium, and shape the future of insurance—both in Ireland and around the world”, the industry expert predicted.
In his remarks, Ireland’s Minister for Finance, Paschal Donohoe TD, expatiated: “The decision to bring part of the Lloyd’s Lab programme to Ireland is a strong vote of confidence in our financial services ecosystem. It builds on our strengths as a leading international hub for insurance and financial services, and it aligns directly with the objectives of the Ireland for Finance strategy.
“This initiative will showcase Ireland’s skilled workforce, regulatory strength, and innovative culture to the global market, while offering Irish firms’ unique opportunities to engage with the Lloyd’s community worldwide”, the minister added.
Also, Ireland’s Minister of State at the Department of Finance with special responsibility for Financial Services, Insurance and Credit Unions, Robert Troy TD, said: “Hosting a Lloyd’s innovation programme is an exciting development for Ireland’s insurance sector. The Lloyds Lab Accelerator Programme is globally recognised for developing solutions to the risks of the future, and its presence in Ireland reinforces our commitment to continuous reform and to our financial services industry.
“The Government’s Action Plan for Insurance Reform 2025–2029 places innovation, transparency, and resilience at its core, ensuring Ireland remains competitive, open to new entrants, and trusted by international investors. This collaboration with Lloyd’s will further deliver on those priorities”, he added.
