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ARTICLE · 14 JANUARY 2014

Insurance Quarterly Legislative Update - Q1 2014

Dillon Eustace
Dillon Eustace
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Dillon Eustace

Dillon Eustace

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On 4 November 2013, the Central Bank published its final Guidelines on Preparing for Solvency II (the "Guidelines"). This follows the European Insurance and Occupational Pensions Authority ("EIOPA")’s publication of their final Guidelines for the Preparation of Solvency II on 27 September 2013. The Central Bank’s Guidelines closely reflect EIOPA’s Guidelines and are linked to the Central Bank’s PRISM risk-based supervisory framework.

IrelandInsurance
Dillon Eustace
Dillon Eustace
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Solvency II

(i) The Central Bank Publishes the Final Guidelines for the Preparation of Solvency II

On 4 November 2013, the Central Bank published its final Guidelines on Preparing for Solvency II (the "Guidelines"). This follows the European Insurance and Occupational Pensions Authority ("EIOPA")'s publication of their final Guidelines for the Preparation of Solvency II on 27 September 2013. The Central Bank's Guidelines closely reflect EIOPA's Guidelines and are linked to the Central Bank's PRISM risk-based supervisory framework. The objective of the Guidelines is to allow effective and meaningful preparation for Solvency II, so that when Solvency II is applicable, it can be fully complied with.

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