Dept of Finance concerned by some insurance firms’ reserves
Companies are using EU passporting rules to sell products to Irish consumers
The Department of Finance is concerned about the level of reserves held by some insurance companies that operate here but are regulated in other countries.
The companies are using so-called EU passporting rules to sell products to Irish consumers.
The department’s concerns come as the insurance sector faces further turmoil after the collapse just over a week ago of Enterprise Insurance, an insurer regulated by the Gibraltar Financial Services Commission that sold insurance to 14,000...
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