Jurisdiction(s):
Ireland

Central Bank of Ireland Insurance Outlook 2025: Financial Resilience, Business-Model, Operational/Cyber and Climate Risks, AI Supervision, Intermediary Remuneration and Value for Money

Published on: 11 March 2025

Published by a LexisNexis Ireland - Banking & Financial Services expert

Legal News

Article summary

The Central Bank of Ireland (CBI) has released its Regulatory & Supervisory Outlook Report 2025. Within the new supervisory approach launched in January 2025, Insurance is designated as one of three overarching industry groupings, covering domestic life and non-life business, reinsurance, and international insurance. The Report observes that the majority of Irish (re)insurers operate as subsidiaries of large international groups and that the market remains strongly international in focus, with around 70% of gross premiums in the 12 months to September 2024 sourced from over 70 countries...

Key risks

Financial risks and resilience — The CBI records that the (re)insurance sector has remained robust through recent geopolitical shocks and the continuing impact of elevated inflation and interest rates, underpinned by disciplined pricing and underwriting, prudent reserving and solid capital strength. It cautions, however, that liquidity pressures could emerge where severe events coincide and where firms hold illiquid assets. Meanwhile, credit and counterparty risks are assessed as stable, given (re)insurers’ limited direct lending and the fact that 90% of their bond portfolios are investment grade...

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