Ireland: Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles

International Monetary Fund

No 2015/118, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses findings of the Detailed Assessment of Observance on the Insurance Core Principles on Ireland. It highlights that the Central Bank of Ireland (CBI) has made significant progress in updating the regulatory regime, and the impending implementation of Solvency II (SII) is expected to address most of the regulatory gaps noted in the assessment. The Central Bank Supervision and Enforcement Act of 2013 has significantly enhanced CBI’s supervision and enforcement powers. CBI’s preparation for SII is well advanced, and a dedicated SII project has been in place since 2010.

Keywords: ISCR; CR; life insurer; holding company; insurance group; business model; risk management; risk assessment; ERM framework; life assurance; group supervision; risk profile; impact insurer; line of business; reinsurance strategy; Insurance companies; Insurance; Solvency; Legal support in revenue administration; Global; Europe (search for similar items in EconPapers)
Pages: 147
Date: 2015-05-13
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