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ARTICLE · 03 OCTOBER 2022

Responses To CBI Consultation On Intra-group Transactions

Arthur Cox
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The Society of Actuaries in Ireland (SAI) and the Reinsurance Advisory Board of Insurance Europe (RAB) have recently published separate responses to the Central Bank of Ireland (CBI) ...

IrelandInsurance
Stephen D'Ardis
Stephen D'Ardis
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The Society of Actuaries in Ireland (SAI) and the Reinsurance Advisory Board of Insurance Europe (RAB) have recently published separate responses to the Central Bank of Ireland (CBI) Consultation on Guidance for (Re)insurance Undertakings on Intragroup Transactions and Exposures (CP150).

Some common themes can be discerned from their responses, which mainly focus on intra-group reinsurance arrangements:

  • Solvency II risk management requirements currently apply the same standards to intra-group and external arrangements, so this guidance should not place additional requirements on intragroup transactions (IGTs)
  • IGTs may be implemented by (re)insurers more quickly and easily, for example in crisis situations

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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