The Central Bank has published its quarterly newsletter for Q4 2018, which contains
articles on Brexit preparedness, recent observations from a
thematic review of underwriting, as well as recent supervisory
updates from the Central Bank and EIOPA. Supervisory Priorities for
the Insurance Directorate for 2019 are identified as financial and
operational resilience, industry response to disruptive changes,
consumer protection and culture and diversity.
On the issue of Brexit preparedness, the Central Bank provides
an overview of the notification process and the eligibility
criteria for Irish insurers to avail of the UK Government's
Temporary Permissions Regime after the withdrawal date. Under the
UK EEA Passport Rights (Amendment) Regulations
2018 an insurer that is authorised to carry on regulated
activities in the UK through a freedom of establishment or freedom
of services passport can obtain a Part 4A permission to carry on
those activities for a maximum of three
