William Fry made its submission to the Central Bank of Ireland on Consultation Paper 131 on “Regulations for pre-emptive recovery planning for (re)insurers” on 30 October 2020.
We are keenly aware of the importance of this consultation paper to the (re)insurance industry and we welcomed the opportunity to share our feedback with the Central Bank. Our submission addresses a broad range of issues prompted by the contents of the consultation paper, including seeking clarification on the types of (re)insurers that should be in scope of the proposed regulations.
Our submission to the CBI is available to view here.
Our briefing on CP131 is available here.
We will continue to monitor developments on this topic and provide updates. Please contact a member of our Insurance & Reinsurance team, or your usual William Fry contact, if you wish to discuss further.
Contributed by Mike Frazer