The Central Bank of Ireland has published a feedback statement on Consultation Paper 92 Domestic Actuarial Regime and related Governance Requirements under Solvency II.
The consultation period closed on 29 May 2015.
Under Solvency II all (re)insurance undertakings must comply with the requirements related to the actuarial function. The Central Bank is also introducing specific domestic requirements regarding the actuarial function and related governance arrangements which shall apply to all (re)insurance undertakings subject to Solvency II.
The Requirements will be imposed on a statutory basis by the end of 2015 and will apply from 1 January 2016.
The Central Bank will issue the Requirements following the transposition of Solvency II into national law in Ireland.
The feedback statement on Consultation Paper 92 is available here.