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ARTICLE · 03 JUNE 2026

What IRRD Means For Irish (Re)Insurers (Part 1)

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

William Fry advises leading Irish and international companies, covering both the public and private...

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The Insurance Recovery and Resolution Directive (IRRD), published in January 2025, introduces a harmonised EU-wide framework for pre-emptive recovery planning and resolution planning for (re)insurers.

IrelandInsurance
Ian Murray
Ian Murray
Eoin Caulfield
Eoin Caulfield
Caitlin Lenihan
Caitlin Lenihan
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The Insurance Recovery and Resolution Directive (“IRRD” or “Directive“), published in January 2025, introduces a new harmonised EU-wide framework for pre-emptive recovery planning and resolution planning for (re)insurers.

While there is very recent memory of Irish bank failures, Ireland has not been immune to insurer failures. More recent example includes CBL Insurance in 2018, alongside earlier collapses of systemically important insurers such as Quinn Insurance, PMPA and Insurance Corporation of Ireland. Elsewhere in Europe, the failure of Eurovita in Italy has underscored the continuing relevance of the risk of failure or near failure. Against this backdrop, the new IRRD measures are addressed at a harmonised approach in dealing with these types of stress events and (re)insurer failures. In the first part of this two-part series, we will discuss the background of the IRRD and its framework for pre-emptive recovery planning.

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