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Ireland's Central Bank Tightens Rules for Insurers in New 2025 Guidelines

From health insurance transparency to reinsurance risks, Ireland's latest regulatory push demands action. Will insurers adapt before deadlines hit? Firms face tighter oversight on outsourcing, consumer assessments, and EEA compliance—here's what's changing.

,   and  Administrator
1 min read
The image shows a poster with the words "Sign Up for Health Insurance by August 15th" written in...
The image shows a poster with the words "Sign Up for Health Insurance by August 15th" written in bold, black font against a white background. The poster also features a logo of a blue and white shield with a white star in the center, symbolizing the importance of health insurance.

Ireland's Central Bank Tightens Rules for Insurers in New 2025 Guidelines

The Central Bank of Ireland released its third insurance newsletter in September 2025. The publication covers key updates on regulatory changes, industry practices, and oversight expectations for insurers.

The newsletter highlights updates on regulatory return formats and developments from the European Insurance and Occupational Pensions Authority (EIOPA). It also includes findings from the Central Bank's Authorisations and Gatekeeping Report.

A thematic review on consumer treatment during health insurance policy purchases and renewals was conducted. Firms are now expected to provide full suitability assessments, maintain robust systems, and encourage direct consumer engagement. Online self-assessment tools should also be made available. The Central Bank assessed risks linked to intra-group outsourcing, particularly within specialty insurance firms. It stressed the need for strong outsourcing risk management frameworks and detailed management information for oversight. On asset-intensive reinsurance (AIR), the regulator reminded firms to consult supervisors before entering major transactions. While no Irish insurers were asked to submit AIR data in May 2025, the Central Bank continues to monitor the area closely. The newsletter also addresses upcoming Solvency II amendments. The bank plans to engage with firms to evaluate their preparedness for the changes. Additionally, it urged companies to maintain a meaningful presence in the European Economic Area (EEA) and reduce over-reliance on third countries.

The Central Bank's latest newsletter outlines clear expectations for insurers on consumer protection, outsourcing, and regulatory compliance. Firms must now review their practices to align with the updated guidance and upcoming Solvency II adjustments.

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