The average motor insurance premium last year was 568 euro, up 2 per cent on 2022's figures.
The Central Bank's latest Private Motor Insurance Report of the National Claims Information Database shows premiums fell between 2017 and 2022 by 23 per cent, before then rising again last year.
The report also found the average cost of a claim per policy increased by 5 per cent in 2023 to 369 euro.
Alliance for Insurance Reform CEO Brian Hanley expects those premiums will be even higher this year.
