Regulatory Developments In Ireland's Insurance Sector

Previously published in Captive Review

Tom Carney of Dillon Eustace tells how Ireland has stepped up its regulatory regime in its insurance sector post the recent economic crisis and outlines how Solvency II will affect the state.

The past 18 months have witnessed significant commercial, legal and regulatory developments in Ireland's insurance sector. Measures pursued through necessity by the Irish government to tackle the country's economic recession coupled with the adoption at EU-level of several sector specific legislative instruments have resulted and will continue to result in increased and sustained regulatory enforcement. Notwithstanding greater future regulatory intervention in the insurance market, Ireland continues to be a location of choice for the establishment and operation of European-based insurance activities.