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Corporate Governance for Reinsurance Undertakings 2007

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Summary

As the reinsurance sector in Ireland moves to formal regulation following the publication of Council Directive 2005/68/EC (“Reinsurance Directive”) on the 9th of December 2005, corporate governance standards within reinsurance undertakings will be subject to regulatory oversight. Following transposition of the Reinsurance Directive in Ireland via Statutory Instrument 380 of 2006 (“S.I. 380”), signed into Irish law on the 15th of July 2006, the Irish Financial Services Regulatory Authority (“Financial Regulator”) is issuing this paper to outline to the sector how Corporate Governance will be dealt with in practice between individual reinsurance undertakings and the Financial Regulator.

Thumbnail image for As the reinsurance sector in Ireland moves to formal regulation following the publication of Council Directive 2005/68/EC (“Reinsurance Directive”) on the 9th of December 2005, corporate governance standards within reinsurance undertakings will be subject to regulatory oversight. Following transposition of the Reinsurance Directive in Ireland via Statutory Instrument 380 of 2006 (“S.I. 380”), signed into Irish law on the 15th of July 2006, the Irish Financial Services Regulatory Authority (“Financial Regulator”) is issuing this paper to outline to the sector how Corporate Governance will be dealt with in practice between individual reinsurance undertakings and the Financial Regulator.
Issuer

Ireland

Year

2007

Region

Europe

Policy Type

Disclosure

Geographical scope

National

Mandatory or voluntary

Mandatory


Main industries targeted
  • Finance & Insurance
  • Professional, Scientific, & Technical Services
Restrictiveness

Low

Sustainable Development Goals (SDGs)
  • SDG 5: Gender Equality
  • SDG 6: Clean Water and Sanitation
  • SDG 8: Decent Work and Economic Growth
  • SDG 10: Reduced Inequality
  • SDG 14: Life Below Water

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