ARTICLE
23 December 2015

New Corporate Governance Requirements For (Re)Insurance Undertakings 2015 And Captive (Re)Insurance Undertakings 2015

M
Matheson

Contributor

Established in 1825 in Dublin, Ireland and with offices in Cork, London, New York, Palo Alto and San Francisco, more than 700 people work across Matheson’s six offices, including 96 partners and tax principals and over 470 legal and tax professionals. Matheson services the legal needs of internationally focused companies and financial institutions doing business in and from Ireland. Our clients include over half of the world’s 50 largest banks, 6 of the world’s 10 largest asset managers, 7 of the top 10 global technology brands and we have advised the majority of the Fortune 100.
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.
Ireland Insurance

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.

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