FIG Top 5 At 5 - 20/04/2023

1. Fitness & Probity Updates

Central Bank of Ireland publishes Prohibition Notice issued to Mr Martin Ryan under the Fitness and Probity Regime

On 13 April 2023, the Central Bank of Ireland (the "Central Bank") published a Prohibition Notice issued to Mr Martin Ryan, the former Chief and Signing Actuary at RSA Insurance Ireland DAC ("RSAII") and former Actuarial Manager at Euro Insurances DAC ("EID") trading as LeasePlan Insurances for breaches under the Fitness and Probity ("F&P") Regime.

The Prohibition Notice was issued after Mr Ryan signed a Statement of Undisputed Facts in December 2020, in which he accepted that:

• he facilitated a wrongful Under-Reserving Practice at RSAII for a period in excess of three years by making various actuarial adjustments which were not documented or reported;