Corporate Governance, Compliance & Board Evaluations

The Corporate Governance Code for Credit Institutions & Insurance Undertakings was published by the Central Bank of Ireland in November 2010. The Code applies to all Irish banks, building societies, insurance companies (both life and non-life but excluding captives), and reinsurance companies (excluding special purpose reinsurance vehicles) since 1 January 2011.

Institutions were given a transitional period of 30 June 2011 to implement any necessary changes to their systems and structures, with an extension to 31 December 2011 where changes to the board were necessary. Institutions which are considered by the Central Bank to be a “Major Institution” will be subject to more onerous requirements than other financial institutions.

Our team can assist you with putting appropriate documentation and procedures in place to comply with the Code, including:

  • Policy documents regarding conflicts of interest of board members;
  • Formal letters of appointment for directors;
  • Formal board reviews on an annual basis;
  • Terms of reference for the board and all sub-committees of the board;
  • Formal remuneration policy;
  • Formal list of matters reserved specifically to the Board for decision; and
  • Annual statement of compliance with the Code for inclusion in the Annual Report
We have advised a wide range of financial institutions on both the implementation and ongoing compliance with the Central Bank of Ireland’s requirements. We have also conducted board reviews and produced various reports on matters of corporate governance.

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The William Fry insurance team is consistently rated "Band 1" and a leader in its field by publications including Chambers Europe, Legal 500, IFLR, “Who’s Who of Insurance and Reinsurance Lawyers” and “World’s Leading Insurance and Reinsurance Lawyers”.

Members of the team including John LarkinEoin Caulfield and Owen O'Sullivan are individually ranked as "Leading Individuals" and as "Band 1".

The team prides itself on service excellence and a commercial and solution-oriented approach to its work.

Department

  • Interviewees appreciate that the team delivered "unequivocal advice with confidence, which allowed us to get on with our business." The team has "an eye for detail," reports one client, while another adds that the lawyers are "very thorough and focused." Chambers Europe, 2018  
  • Clients agree that the lawyers are "excellent: they provide a quick turnaround and are very pragmatic." Another source praises the team's "good knowledge and service," adding: "They are well known for insurance matters." Chambers Europe 2017 
  • William Fry’s team provides ‘excellent partner access and practical advice’. Legal 500 EMEA, 2017
  • "This firm has been a great cultural fit for us. There is no pomp and circumstance - the lawyers are very knowledgeable and hard-working but don't have the arrogance you can sometimes experience elsewhere."
    "A leading firm in the area of insurance and corporate transactions, matching up against anyone else I could recommend."
    " William Fry have pulled ahead in insurance and I have used most of the top four Firms
    ." Chambers Europe, 2016
  • "Excellent on all fronts." Legal 500 EMEA, 2016 
  • "The lawyers are by our side in a fast and evolving regulatory landscape; it doesn't feel like working with an anonymous corporate law firm. They are very solution-oriented and pragmatic in their approach. Their depth of knowledge and willingness to turn things around in a tight timeframe are fabulous." 
    "The team provides comprehensive and effective advice on complex transactions, which are completed on time and within budget."
     Chambers Europe, 2015
  • William Fry is ‘a known centre of insurance expertise’. Legal 500 EMEA, 2015 
  • "The team is impressive. It is in tune with what I want, responsive and gets great results."   
    "The lawyers are incredibly knowledgeable, but not at all arrogant. It is an authority in our industry."  
     Chambers Europe, 2014
  • With this firm we can pick up the phone and get things done very quickly."
    "Lawyers here delivered what they said they would and when they said they would. They are very consistent – all the work is excellent and they are easy to do business with."
      Chambers Europe, 2013 

Team

John Larkin

  • John Larkin remains a market-leading practitioner in non-contentious insurance matters. Sources praise his outstanding reputation, with one client opining: "He is probably the standout figure in the industry." Chambers Europe, 2017 
  • John Larkin is "widely known as a leader in the market" offering "excellent experience, particularly in the context of anticipating regulatory involvement"Chambers Europe, 2016 - Insurance
  • The team, led by John Larkin, is ‘diligent and detailed’Legal 500 EMEA, 2016
  • John Larkin ‘provides practical solutions’. Legal 500 EMEA, 2015 - Insurance
  • "There is nothing about insurance that he doesn't know. He is a great guy to go to when you have a problem because he will always give you time and make sure you get support and attention." Chambers Europe, 2015 - Insurance
  • Department head John Larkin "is focused, solution-driven and commercially minded. He has great industry knowledge," enthuse clients. Chambers Europe, 2014 - Insurance
  • John Larkin's "knowledge of insurance law is second to none. He understands the marketplace and really combines that with his pragmatism. He is easy to deal with and not a time waster." Chambers Europe, 2013 - Insurance

Eoin Caulfield

  • Eoin Caulfield enjoys a superb reputation as a pre-eminent practitioner in corporate and transactional insurance mandates. Clients say: "He is a reinsurance expert with a good overview of the Irish market. He is very efficient, affable and always available when needed.Chambers Europe, 2017 
  • Eoin "demonstrated exceptional expertise and a pragmatic approach. He dealt with sensitive issues skilfully to advance our interests without getting into a row or generating disputes." Chambers Europe, 2016 
  • "Eoin Caulfield has a fantastic understanding of liability". Legal 500 EMEA, 2016 
  • Eoin Caulfield ‘provides practical solutions’. Legal 500 EMEA, 2015 
  • Eoin's "ability to cut through complicated issues and arrive at an opinion. He is practical, prompt and thorough, making everything easy." Chambers Europe, 2015 
  • Eoin Caulfield is praised as "pragmatic, understands everything about the area, and provides practical and solution-oriented advice." Chambers Europe, 2014 
  • Eoin Caulfield is described as "exceptionally knowledgeable about the sector and insurance start-ups as well as any regulatory and commercial issues that may affect insurance companies." Chambers Europe, 2013 

Owen O'Sullivan

  • Interviewees describe Owen O'Sullivan as "very well regarded and a good litigator." Chambers Europe, 2017
  • "Owen O'Sullivan is a litigator and dispute resolution specialist with an exceptional reputation, including sound knowledge and experience of insurance disputes.Chambers Europe, 2016 
  • Sources regard Owen O'Sullivan as "pragmatic and a deal maker. He is a great litigator."  Chambers Europe, 2014 
  • Owen is praised for his "prompt, enthusiastic and responsive approach."  Chambers Europe, 2013

Key Contacts

John Larkin Partner

Eoin Caulfield Partner

Naoise Harnett Partner