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ARTICLE · 23 APRIL 2018

Insurance And Reinsurance 2018

Arthur Cox
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Elizabeth Bothwell and David O'Donohoe of the firm's Insurance and Reinsurance Group have contributed the Ireland chapter to the International Comparative Legal Guide to Insurance and Reinsurance 2018.

IrelandInsurance
Arthur Cox
Arthur Cox
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1 Regulatory

1.1 Which government bodies/agencies regulate insurance (and reinsurance) companies?

The Central Bank of Ireland (the "CBI") is responsible for authorising and supervising all financial institutions in Ireland, including insurance and reinsurance companies.

1.2 What are the requirements/procedures for setting up a new insurance (or reinsurance) company?

In order to set up a (re)insurance company in Ireland, it is necessary to incorporate a company and obtain authorisation from the CBI.

When establishing a new (re)insurance company, promoters are permitted to adopt different types of corporate organisations (e.g. a public limited company, a private limited company in the form of a designated activity company ("DAC"), a company limited by guarantee, an unlimited company or a European Company (SE)).

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