The Central Bank has recently published the Corporate Governance
Requirements for Insurance Undertakings 2015 and the Corporate
Governance Requirements for Captive Insurance and Captive
Reinsurance Undertakings 2015. The 2013 Codes have been split and
renamed to provide for requirements for insurance undertakings and
credit institutions separately. The nature of these requirements
has not changed, however, some additional requirements, applicable
to insurance undertakings designated as high impact, have been
introduced. Undertakings will be required to comply with the
Requirements from 1 January 2016. Until this date, the conditions
previously imposed on (re)insurance undertakings under the 2013
Codes remain in force.
Please click here to view the Requirements in full.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.