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ARTICLE · 04 JUNE 2026

What IRRD Means For Irish (Re)Insurers (Part 2)

William Fry LLP
William Fry LLP
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The Insurance Recovery and Resolution Directive introduces a comprehensive framework for managing distressed (re)insurers through resolution planning and intervention powers. This analysis examines the Central Bank of Ireland's role as resolution authority, the assessment of resolvability...

IrelandInsurance
Ian Murray
Ian Murray
Eoin Caulfield
Eoin Caulfield
Caitlin Lenihan
Caitlin Lenihan
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This is the second part of our two-part series on the Insurance Recovery and Resolution Directive (IRRD or Directive).

In this part, we focus on resolution planning under the IRRD, including the role of resolution authorities, the assessment of resolvability, and the range of resolution tools and measures available where a (re)insurer is failing or likely to fail. The first part is available here.

Resolution Planning

A “resolution plan” is a strategy prepared in advance by the designated resolution authority in an EU Member State to manage the possibility of, or the failure of, a (re)insurer that meets the test for resolution. “Resolution” under the IRRD refers to more “hands-on” direct intervention through a range of potential measures, with the actions taken by the resolution authority itself. Those actions are distinct from actions taken by the (re)insurer under its recovery plan. Such plans are developed for (re)insurers where resolution is deemed to be in the public interest,

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