Insurance Ireland wants smaller firms exempted from EU solvency rules to ‘strengthen’ sector

Insurance Ireland is pushing for more of its members to be exempted from landmark EU-wide regulations introduced in 2016 to strengthen the stability of the sector.

The insurance representative body has drawn up a discussion paper along with its Dutch counterpart calling for all insurers with gross written premium of less than €10 million to be exempted from the Solvency II regulatory framework.

Solvency II, which came into force in January 2016, set ...