Public Consultation on the Development of a National Resolution Framework for (re)Insurers
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The Department of Finance, in collaboration with the Central Bank of Ireland, has invited submissions (by 30 November 2021) on the possible development of a resolution framework for insurers and reinsurers. William Fry's insurance team summarise the key aspects of the consultation paper.
Following the introduction of Irish regulations earlier this year requiring pre-emptive recovery planning by insurers and reinsurers, the industry has been anticipating legislative and regulatory developments in the area of resolution planning. Proposals for a new directive have been put forward by the European Commission in recent weeks, but this briefing focuses specifically on the contents of the Department of Finance / Central Bank of Ireland consultation paper that is open until 30 November 2021.
Click here or on the image below to download our full briefing.
