A&L Goodbody

This Practice Note provides an outline of the process for obtaining authorisation from the Central Bank of Ireland as a (re)insurer. It considers the requirement for authorisation under SI No 485/2015 European Union (Insurance and Reinsurance) Regulations 2015 (Ireland) and the process for obtaining authorisation. It also considers the conditions that an applicant may be required to fulfil before the authorisation is granted, the refusal and withdrawal of an application and post authorisation amendments.

This Practice Note provides guidance on the insurance portfolio transfer process, which is completed pursuant to s 13 of the Assurance Companies Act 1909 (Ireland), s 36 of the Insurance Act 1989 (Ireland) and regulation 41 of SI No 485/2015 European Union (Insurance and Reinsurance) Regulations 2015 (Ireland). It examines what transactions qualify as insurance portfolio transfers and the roles of the Central Bank of Ireland and the High Court in the regulation of insurance portfolio transfers.