New research from the Central Bank show that 62% of personal motor insurance policies are provided by companies incorporated in Ireland and regulated by the bank.
The Central Bank said that of the 24 motor insurance companies operating here, nine are incorporated in Ireland, while four are incorporated in the UK and have branches in Ireland.
The other 11 companies provide insurance here on a "freedom of services" basis.
The total number of motor insurance policies at the end of last year stood at 2,134,553 with total premiums of €1.02 billion.
Today's figures are contained in the Central Bank's fifth Consumer Protection Bulletin, which focuses on the motor insurance sector.
They also reveal that motor insurance companies received a total of 11,502 complaints in the second half of last year - this represented about 0.5% of live policies.
52% of these complaints related to pricing, 20% to customer service and over 12% to the voiding/decline of policy/terms and conditions.
The Central Bank noted that 99% of complaints were resolved within 40 business days.
