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ARTICLE · 05 JULY 2012

A Guide To Life Assurance Regulation In Ireland

Dillon Eustace
Dillon Eustace
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Dillon Eustace

Dillon Eustace

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Although Ireland has regulated life assurance activities for over 100 years the key driver of insurance regulation for the last 30 years has been its membership of the European Union ("EU").

IrelandInsurance
Dillon Eustace
Dillon Eustace
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INTRODUCTION

Although Ireland has regulated life assurance activities for over 100 years, with many provisions of its historic regulatory regime still relevant today, the key driver of insurance regulation and the basis for the development of its cross-border industry, for the last 30 years, has been its membership of the European Union ("EU") and the harmonised insurance regime which has evolved at EU level since the introduction of the First Life Directive in 1979.

The Irish legal framework governing insurance business is set out in pre-existing domestic legislation as amended and supplemented by national laws which implement EU legislative provisions. This framework is further supported by guidance notes and policy papers issued by the Central Bank of Ireland (the "CBoI").

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