Ireland: Insurance Laws and Products

The Central Bank of Ireland has commissioned a comprehensive review of its enforcement activities, examining effectiveness, efficiency, and transparency in light of the evolving financial system. Simultaneously, new regulations establish the 2026 levy framework for regulated entities, while the Department of Finance seeks public input on implementing EU crisis management and deposit insurance reforms.

The Central Bank of Ireland has launched Consultation Paper 171, proposing significant refinements to its domestic actuarial regime and guidance for insurance and reinsurance undertakings. These changes affect the Head of Actuarial Function role, reserving policies, peer review requirements, and various life and non-life specific elements, with the consultation open for submissions until October 2026.

The Central Bank of Ireland has published a consultation on proposed refinements to the domestic actuarial regime under Solvency II, while the European Commission adopted a communication addressing competitiveness challenges in the EU banking sector. EIOPA completed its Solvency II review mandate by publishing the final set of guidelines and technical standards for the amended framework.

The Central Bank of Ireland is advancing its regulatory framework through multiple initiatives, including a consultation on regulatory impact assessments and consultation approaches, speeches on financial intermediaries and macroprudential policy, and guidance on insurance sector changes. These developments reflect the Central Bank's commitment to simplification, proportionality, and evidence-based policymaking while maintaining robust consumer protection and financial stability standards.

In Lynch v Motor Insurers Bureau of Ireland [2026] IECA 95, the Court of Appeal noted a limitation in respect of section 26 of the Civil Liability and Courts Act 2004 (2004 Act)...

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...

The Irish Government recently launched the Motor Insurance Transparency Code (Transparency Code), a priority commitment under its Action Plan for Insurance Reform 2025–2029.

The Newsletter outlines that the Central Bank carried out a survey (“Survey”) to gather information on the use of generative AI systems (“Gen AI”) and other AI systems (“Other AI”) in (re)insurance. In May 2025, the European Insurance and Occupational Pensions Authority (“EIOPA”) launched a survey on the use of Gen AI – for more information, see FIG Top 5 at 5 dated 22 May 2025.

On 26 February 2026, the Central Bank of Ireland published its 2026 Regulatory and Supervisory Outlook (RSO), outlining the key trends and risks shaping the financial sector, as well as its regulatory and supervisory...