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ARTICLE · 04 OCTOBER 2024

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On 17 September 2024, the Central Bank of Ireland ("Central Bank") published its insurance quarterly newsletter ("Newsletter"). The Newsletter is an important communication tool used by the Central Bank...

IrelandFinance and Banking
Matheson LLP
Matheson LLP
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1. Central Bank's Insurance Quarterly Newsletter is published

On 17 September 2024, the Central Bank of Ireland (“Central Bank”)  published its insurance quarterly newsletter (“Newsletter”). The Newsletter is an important communication tool used by the Central Bank to convey news and insights relevant to the insurance sector as well as the Central Bank's expectations and priorities around existing requirements and views on future developments. Some of the key highlights from this edition include:

1. Thematic Review of Climate Change Risk Materiality Assessments

The Central Bank has previously stated that one of its strategic priorities is climate change risk, with materiality assessments being a supervisory focus for 2024. A thematic review (“Review”) of the materiality assessments of 29 firms was recently completed by the Central Bank, encompassing firms from non-life, life, and reinsurance sectors and spanning all PRISM impact ratings. The Newsletter notes

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