The Central Bank of Ireland (CBI) has published a Consultation Paper (CP) inviting stakeholders to provide their views on the proposed Guidance for (Re)insurance Undertakings on Intragroup Transactions (IGTs) and Exposures. This CP from the CBI demonstrates its views on the growing importance of a holistic approach to risk management. In particular, the CBI highlights the necessity to consider the impact of IGTs on the risk profile of the business. The purpose of this briefing note is to summarise some of the key proposals in the CP regarding risk management processes associated with IGTs, and to identify some of the areas that company’s may struggle to comply with.
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CP150: Guidance for (re)insurance undertakings on intragroup transactions and exposures
This briefing note summarises some of the key proposals in the CP regarding risk management processes associated with IGTs, and to identify some of the areas that company’s may struggle to comply with.