The international insurance sector has continued to grow in Dublin despite world events, according to figures from the Dublin International Insurance & Management Association (Dima).

Dima chairman Ian Clancy said the Dublin sector remained relatively unaffected by events such as the World Trade Centre attacks and the war in Afghanistan.

He said the sector would provide new products to satisfy the lack of capacity.

Dima's survey of its member companies showed premiums written in 2000 increased 11%, while the asset base for Dima members grew by 27%.

Clancy said the results were encouraging at a time when many Irish industries were undergoing radical change.

"Dima expects continued growth, as Dublin further consolidates its position and reputation in global insurance markets," he said.

"While recent global events have put pressure on sectors of the industry globally, Dublin should largely be unaffected and, indeed, is well positioned to participate in the structuring of new and innovative products and facilities to satisfy short-term reduced capacity."

Ireland's Industrial Development Agency (IDA) is also positive about Dublin's outlook. IDA international insurance representative Catherine Graham said the sector's strong point was tailoring innovative insurance and reinsurance products.

"Not only do we have a high-profile collection of insurers, reinsurers and captives carrying on their independent business, but they're doing so in a marketplace small enough to allow individuals to meet, co-operate and work together," Graham said.