Opening Address at Annual Insurance Briefing in the Central Bank of Ireland
Good morning ladies and gentlemen. I extend a very warm welcome to you in our new campus here at North Wall Quay in Dublin and thank you for attending today’s Insurance Supervision Directorate’s annual industry event.
It is difficult to believe that it is already 12 months since our last address. That time has gone by very quickly, with a number of significant events, which have impacted the insurance industry. These events have ranged from the triggering of article 50 of the Lisbon Treaty on 29 March 2017, which initiated the Brexit process; to the first complete suite of annual reporting under Solvency II, Pillar III, which took place in May for the majority of undertakings.
My remarks today will focus on three main areas:
- Brexit.
- Supervisory convergence in Europe.
- Areas of supervisory focus as result of changes in technology and under Solvency II.
Strategic: Brexit
The headline political change of the
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