The Central Bank of Ireland (CBI) has published consultation paper CP131 “Regulations for pre-emptive recovery planning for (re)insurers”. The CBI recognises that Solvency II is not a zero-failure regime. As a result, it believes that an appropriate framework is necessary to ensure failure is managed in a manner that minimises the impacts on financial stability, policyholders and beneficiaries in both home and host member states. It is the view of the CBI that pre-emptive recovery planning is necessary to facilitate increased awareness and preparedness within firms.

Contributed by Mike Frazer and Ian Murray