Stephen D'Ardis

1 month ago | mondaq.com | Denise Murray |Sarah Thompson |Robert Cain |Stephen D'Ardis

There are now just three months to go until the SeniorExecutive Accountability Regime (SEAR)under the Central Bank of Ireland's IndividualAccountability Framework (IAF) will applyto non-executive directors and independent non-executive directors((I)NEDs) of relevant credit institutions,insurance undertakings and investment firms (in-scopeentities). SEAR obligations have applied to all otherexecutives since mid-2024.

2 months ago | lexology.com | Denise Murray |Sarah Thompson |Robert Cain |Ian Dillon |Dara Harrington |Kevin Murphy | +8 more

On 28 February 2025, the Central Bank of Ireland (Central Bank) introduced its new supervisory approach which seeks to integrate conduct, integrity and prudential supervision. The Central Bank references the evolution of its supervisory approach since it introduced risk-based supervision (PRISM) in 2011. The pace of change in the financial sector together with the additional responsibilities to supervise a changed landscape have prompted the development of this New Supervisory Approach.

Jan 16, 2025 | mondaq.com | Stephen D'Ardis

In December 2024, the European Central Bank and the EuropeanInsurance and Occupational Pensions Authority published a joint paper on the role of European solutionsin reducing the impact of natural catastrophes. The December 2024joint paper followed on from their joint paper in April 2023 (seemy previous article for a summary of thatpaper).

Jan 15, 2025 | mondaq.com | Stephen D'Ardis

AC Arthur Cox More Arthur Cox is one of Ireland’s leading law firms. For almost 100 years, we have been at the forefront of developments in the legal profession in Ireland. Our practice encompasses all aspects of corporate and business law. The firm has offices in Dublin, Belfast, London, New York and Silicon Valley. The Central Bank of Ireland (CBI) recently published its insurance newsletter for December 2024, setting out its supervisory priorities... Ireland Insurance

Jan 14, 2025 | mondaq.com | Stephen D'Ardis

The Directive amending Solvency II  and the Insurance Recovery and Resolution Directive have just beenpublished in the Official Journal of the European Union. Member States must implement the amendments to the Solvency IIDirective into national law by the end of January 2027. One of thehighlights for insurers with long-term liabilities will be thechanges to the calculation of the risk margin, including areduction in the cost-of-capital rate to 4.75%.