Domestic News
SEPTEMBER 2018
CENTRAL BANK PUBLISHES QUARTERLY NEWSLETTER
The newsletter provides an update of the
activities of the Insurance Directorate in Q3 2018. It includes the
Central Bank's final article in its four part series on risk
culture, which focuses on decision making. The quarterly newsletter
also includes details of forthcoming changes to the Solvency II
reporting requirements, including amendments to the Central
Bank's national specific templates (NSTs). The
revised versions of the NSTs and a revised list of taxonomy
validations will be published by the Central Bank on 18
October.
Feedback is provided from a questionnaire on IFRS17
preparedness, issued by the Central Bank to all high, medium-high
and medium-low impact firms and a sample of low impact firms. The
IFRS 17 is the new accounting standard for insurance contracts, and
will replace IFRS 4 on 1 January 2021, although firms will be
required to prepare their accounts in light of IFRS
