Outgoing President, Mark Nugent passed responsibility for the forthcoming year to Samantha Nagle who was elected as President at the AGM.

We would like to congratulate Sam on her new role and thank Mark for his service and commitment to the Association.  We wish Sam and the other 8 elected board members the very best in their work endeavours on members’ behalf over the forthcoming year.

We would also like to thank members who attended the AGM in person and also those who joined us online for the meeting.

All members present at the AGM voted unanimously in favour of all 9 board members who were proposed for election including:

• Samantha Nagel, Aspire Financial Service – President 
• Thomas Cotter, Best Cover Brokers
• Leah Pittam, Progressive Financial Services
• Frances O’Hanlon, FOH Financial
• Ronan Farrell, JV Hutton
• Donal Milmo-Penny, SMP Financial Ltd
• Paraic O Mahony – Chapter Financial Life and Pensions Ltd
• John Healy – Healy Insurances
• Niamh De Burca – Sprout Plans

The post New President Elected at Annual General Meeting appeared first on Brokers Ireland.

Wednesday 20th August, 2025  

Commenting on the CSO Residential Property Price Index showing continuing price rises of 7.8% year-on-year in June Brokers Ireland said the fact that prices are continuing to rise at such a strong rate, while unsurprising given the lack of supply, overall is very worrying and points to the major task the Government has with its anticipated new housing plan.

Rachel McGovern, Deputy Chief Executive at Brokers Ireland said: “It will take comprehensive and very unprecedented measures to unlock the impediments, particularly in zoning, planning and infrastructure,” she said.

Pointing to the latest ESRI data forecasting just 33,000 units for 2025 and 37,000 in 2026, well below Government targets, she said; “Even with unprecedented measures it is likely to be a couple of years before we would see major change. But it must start,”

She said a consequence of the high prices we’ve been experiencing is that those who need mortgages are taking on ever larger levels of debt.

“There is a cohort of people on high incomes who can sustain that but the reality is that for a decade at this stage housing policy has, sadly, failed those on average incomes who should be able to aspire to home ownership.”

Ends

Further information:  Rachel McGovern,    Deputy Chief Executive, Brokers Ireland          Tel. 086-8259938

Mairéad Foley, Foley Ryan Communications                                                                              Tel. 086-2556764

The post Rising House Prices – Worrying But Unsurprising Says Brokers Ireland appeared first on Brokers Ireland.

Form A is completed in respect of firms who falls in at least one of the following criteria:

1. Does not propose to have an organisational structure that includes branches, tied insurance intermediaries, IIA tied agents, sub-brokers or agents within 12 months of authorisation;
2. Does not propose to operate as a Managing General Agent (MGA)5 within 12 months of authorisation;
3. Does not propose to passport its services into other Member States6 within 12 months of authorisation;
4. Does not propose to act only as a tied insurance intermediary7 and/or as an IIA tied agent8 within 12 months of authorisation; and
5. Does not propose to provide services to 2,500 or more consumers based on a projected average number of consumers in years 1-3 post authorisation.

If you are interested in attending this webinar, please email your contact details to RIAuthorisations@centralbank.ie.

The post Retail Intermediary Authorisations Webinar – Completing Application Form A for Authorisation as a Retail Intermediary appeared first on Brokers Ireland.

Dear Member,

Brokers Ireland’s annual Members Provider Survey for Insurers/Providers across life, mortgage and general insurance is currently open for members to complete and submit online*.

The 2025 Provider Survey is based on Broker’s experiences with life and insurance providers/mortgage lenders across a range of metrics including products, pricing, Broker support, and technical cooperation. The purpose of this research is to benchmark the performance of insurers/lenders over the past 12 months and assess the level of satisfaction among Brokers across service and product offerings. The data gathered will provide valuable insight into the current state of the market across life, Insurance and mortgage providers.

Each insurer/product producer/lender will be ranked based on data collected from a Broker who has dealt with the provider in the previous twelve months. The survey is targeted at the principal(s)/office managers of each member firm.

Improving service standards with providers/lenders is a key focus area for Brokers Ireland, and we will persist in advocating for better provider efficiencies on behalf of our members. The 2025 Provider Survey will provide essential insights into the current market landscape, enabling us to represent members’ concerns effectively and assist providers in enhancing their engagement with the Broker channel.

This survey provides an opportunity for you to have your say by highlighting issues and offering constructive feedback which will help to improve how providers deal with the Broker channel. The research, which is the most comprehensive survey of Insurance providers in the Irish marketplace, and the survey findings will be published in November 2025.

All completed surveys will be automatically included into a draw with a chance to win a €250 voucher of your choice. Thank you for your support on this and we look forward to receiving your completed survey by Tuesday 30th September 2025.

* The Insurance Broker survey will be published shortly and members will be advised once the survey link is live. 

For further information on the individual 2025 Provider Surveys or to receive the survey link’s please contact:

• Financial Brokers – David Holton david@brokersireland.ie/ Pierce Friel pierce@brokersireland.ie
• Insurance Brokers – Hazel Rock hazel@brokersireland.ie/ Paddy Caulfield patrick@brokersireland.ie
• Mortgages: Kimberley Hyland  and Kimberley@brokersirelandmortgages.ie

Regards

Diarmuid Kelly

CEO, Brokers Ireland

The post Members Provider Survey 2025 appeared first on Brokers Ireland.

In my recent messages, I discussed the growing opportunity for Financial Brokers to engage with Automatic Enrolment (AE) business in the latter part of this year.

A growing number of employers are now implementing quality Defined Contribution (DC) pension schemes, typically with 5% employer and 5% employee contributions, covering all staff. 

Reviewing both new and existing scheme business brings additional opportunities, including single premium pensions for owners and executives, transfers, PRBs, corporate investments and more—on top of the initial scheme commission. This work also helps you build a valuable client base for future business in areas such as protection, AVCs, investments, and mortgages.

Some members have asked whether the workload involved in DC schemes is manageable, especially for smaller brokerages. The answer is a resounding yes—DC pensions have changed dramatically with the ongoing payroll calculations and administration now handled by the employer, with technology enabling a straightforward upload process for the debit file to the provider. 

In addition, as part of the current scheme run with Zurich Life, there are bonus commissions available (up to €10,000 per scheme), along with onboarding and ongoing support that makes this business accessible for even the smallest 1 member firms. In fact, many significant pension schemes at Zurich are managed by small Financial Broker businesses.

I asked Zurich to describe their onboarding support:

“We genuinely believe that setting up a Master Trust scheme has never been easier. We partner with Financial Brokers right from the off and will get involved in helping to pitch and win the scheme. Once that’s secured, the Zurich CRM team leads the onboarding process, coordinating with the employer and employees as needed, keeping everyone informed and comfortable throughout the change. Undoubtedly there is heavy lifting, but that’s all done by the Zurich team. We handle all the logistics – ensuring funds are securely moved with minimal disruption, arranging payroll training and set-up with the employer, communicating with the members about the benefits, and lots more. We have a proven transition process, one that works smoothly and effectively. There is no better time than now for Financial Brokers to get involved in DC business.”

With features like spreadsheet uploads, digital member sign-ups, and practical support, the former administrative challenges are greatly reduced. There is no reason why any Financial Broker cannot take advantage of this opportunity.

Brokers Ireland is here to assist for the remainder of the year. If you have any questions or need support in capturing AE business, please get in touch—we’re here to help you and your clients succeed.

Regards

Diarmuid Kelly

CEO

The post Take Another Look At Auto Enrolment with Zurich appeared first on Brokers Ireland.

Many Financial Brokers are acquiring client banks—a great way to invest in and grow your business. But have you considered the Auto-Enrolment (AE) opportunity available later this year? Securing just four or five mid-sized Defined Contribution (DC) schemes (with 30–50 staff each) could generate over €150,000 in initial commission. Plus, you’ll add around 200 new clients to your portfolio—giving you the chance to provide personal advice on protection, investment, AVCs, and mortgages.

Why Is This Such A Great Opportunity?

We’re seeing employers take a holistic approach to their staff pension arrangements. Many are now offering high-quality DC schemes with 5% employer and 5% employee contributions, all advised by Financial Brokers like you.

As you know, scheme discussions and reviews will lead to:

• New members and increased contributions
• Transfer business between schemes
• PRB (Personal Retirement Bond) business
• Single premium pension business for owners and executives
• Corporate investment opportunities—many companies, like individuals, hold excess funds on deposit and benefit from a lower 25% tax rate on investments

In addition, Zurich is offering incentives for Brokers Ireland members on new and expanding schemes. Where applicable, these can add up to €10,000 to your initial remuneration from scheme business. Financial Brokers have also benefitted from Zurich’s scheme onboarding support – they do all the heavy lifting, leaving you to focus on managing the relationship and offering advice.

A Rare Opportunity

This is a unique chance to provide quality advice, expand your client base, and receive fair compensation for your expertise. If you remember the SSIA incentive in 2002, Financial Brokers who participated delivered strong returns through life company funds (rather than deposit-based options) and grew their client banks for future business.

We’re Here to Help

Brokers Ireland is here to support you in making the most of the AE opportunity for your brokerage. If you have any questions, need support, or encounter challenges in this area, just drop me an email. We’ll do our best to help you succeed.

Regards

Diarmuid Kelly

CEO

The post Why Is Auto-Enrolment (AE) Such A Great Opportunity? appeared first on Brokers Ireland.

The post Take Another Look at Auto Enrolment – Opportunities Ahead appeared first on Brokers Ireland.

Wednesday 13^th August 2025

Responding to today’s Central Bank Retail Interest Rates publication for June showing the weighted average interest rate on new mortgages at 3.6%, down just one basis point in the month, Brokers Ireland said while lenders could be doing more, given how the ECB rate has dropped since June 2024, what is really appalling is the consistently poor savings rate of 0.13%.”

Central Bank figures show that at the end of May Irish consumers had €166 billion in savings with Irish banks and of this, over €142 billion is held in overnight deposit accounts attracting 0.13% in interest.

On mortgages Rachel McGovern, Brokers Ireland Deputy Chief Executive said while more competition is entering the mortgage market the benefit may become more evident later in the year.

She noted that an increasing number of new mortgage holders are opting for fixed rates which now constitute 85% of new mortgages.

“Mortgage borrowers are seeking security,” she said. “With property prices continuing to increase they are taking on ever higher levels of debt.”

She said better security could be achieved if lenders were offering the type of long-term fixed rates mortgages largely withdrawn from the market when the ECB began reducing rates in June 2024.

“Borrowers should review their options on an annual basis, especially with increasing competition, and crucially, the increasing value of their properties which could, with an improved loan-to-value ratio, make them eligible for a better mortgage rate,” she said.

She advised existing and new mortgage holders to consider their positions extremely carefully and take impartial advice, with sizeable savings to be achieved for many borrowers, depending on individual circumstances.

An improved Building Energy Rating may also help a mortgage holder to achieve a green loan with a lower interest rate.

Ms McGovern said there are around seven thousand Irish mortgage holders “getting a very raw deal” with excessive interest rates of 8.5% and above, according to research by the Oireachtas library. These are held by non-bank lenders.

“These borrowers are in an extremely difficult position, having been led to believe when their mortgages were unwillingly transferred from the pillar banks to non-bank entities, that they would enjoy the same terms. That has not turned out to be the case.”

She said they deserve special attention. These are the very people who can least afford such exorbitant interest rates. It is because they were struggling in the first place that their loans were transferred. 

“And the absurdity of the situation is that the lenders got rescued but individual mortgage holders have not,” she said.

Ends

Note: Brokers Ireland operates the ‘Future Financial Experts’ Transition Year programme aimed at communicating good financial skills to students and creating awareness around financial concepts.

Further information:  Rachel McGovern, Deputy Chief Executive, Brokers Ireland           Tel.086-8259938

Mairéad Foley, Foley Ryan Communications                                                                            Tel. 086-2556764

The post Interest Rates – Brokers Ireland Urges Mortgage Holders To Review appeared first on Brokers Ireland.

Terms and Conditions

All participants who take part in the Broker Charity Soccer Event must be broker employees. Please register your interest on the button below or for further information, please contact Paddy Caulfield pcaulfield@brokersireland.ie.

The post Kicking For a Cause – Broker Charity Event – Thursday 11th September 2025 appeared first on Brokers Ireland.

Brokers Ireland is delighted to announce the release of three new technical guides designed specifically for Financial Brokers. These guides aim to support brokers in navigating complex industry topics with confidence and clarity.

1. The Business Succession Planning Guide offers a practical overview of how to help clients plan for the future of their business. It highlights key tax considerations, such as CGT and CAT reliefs and the importance of early planning to ensure a smooth leadership transition.
2. The Personal Succession Planning Guide provides an overview of personal succession planning, focusing on the implications of Capital Acquisitions Tax (CAT) in Ireland for gifts and inheritances. It highlights the importance of planning to minimise tax liabilities, ensure the smooth transfer of assets, and avoid disputes.
3. The Review of Master Trust Provider guide outlines and reviews the strategy of the Pensions Authority in reducing the number of schemes; the role that Master Trusts will have in delivering this objective and the key role of Financial Broker’s in advising employers on the options that are available to them in providing ongoing oversight of their selected Master Trust.

These guides are also available for download from the Financial Broker website/dashboard/ resource center/technical guides.

We hope that you find these guides are informative and helpful in outlining and communicating key considerations to your clients.

If you have any queries on this, please don’t hesitate to contact me.

Kind Regards,

David Holton BBS, QFA.

Head of Financial Services

The post New Technical Guides For Financial Brokers appeared first on Brokers Ireland.