Authorisation Process for (Re)insurance Undertakings

To apply for authorisation as an insurance or reinsurance undertaking, potential applicants should refer to the Guidance on Completing and Submitting Licence Applications.

In advance of contacting the Central Bank, a potential applicant must assess what type of licence its business model requires and whether it will be capable of meeting the regulatory requirements in relation to that licence. Having satisfactorily completed this assessment the applicant should then contact the Authorisation Team in the Insurance Supervision Division in order to arrange a preliminary meeting.

Subsequent to a preliminary meeting, the information requirements outlined in the applicable checklist must be provided to the Central Bank in order to constitute a completed application.

Life Insurance Applications

Checklist for Completing and Submitting Life Assurance Applications | pdf 1244 KB

Non-Life Insurance Applications (including Captives)

Checklist for Completing and Submitting Non-Life Insurance Applications | pdf 1116 KB Checklist for Completing and Submitting Captive Non-Life Insurance Applications | pdf 1179 KB

Reinsurance Applications

Checklist for Completing and Submitting Reinsurance Applications | pdf 1063 KB Checklist for Completing and Submitting Captive Non-Life Reinsurance Applications | pdf 1176 KB Checklist for completing and submitting SPRV Applications | pdf 845 KB

All of the listed information must be provided in order to constitute a completed reinsurance application. The application process is then an iterative one involving comments from and responses to the Central Bank after the application is submitted. If an applicant makes material changes to an application, it should submit a revised application incorporating all changes.

The final decision on applications rests with the Central Bank. Details in relation to the formal licensing of successful applications are also included in the Guidance on Completing and Submitting Licence Applications.