Amendments Processing for (Re)insurance Undertakings

The Central Bank of Ireland plays a role in assessing any proposed amendments to an undertaking's approved business model, and in processing changes to master data held on our systems.  This section highlights some of the amendments that may be required in the normal course of business.  Some of these changes are now processed exclusively via the Central Bank of Ireland Portal (please see below for further information on those specific Request Changes).

If you are unclear about the process for a particular change, please contact your regular supervisory contact to discuss.

CBI Portal - Request Changes

Insurance Undertakings must use the Central Bank of Ireland Portal for the following data change requests:

  • Change of Accounting Date
  • Change of Address
  • Change of Auditor
  • Change of Legal Advisor
  • Change of Legal Name (A copy of the new Certificate of Registration issued by the Companies Registration Office should accompany the request)
  • Extension of Insurance Classes (Relevant supporting documents should accompany this request. Your supervisory contact can advise you of what is required).

Change of Director/Manager

All proposed appointees to senior positions are subject to the Central Bank’s ‘Fitness & Probity' requirements. The Regulatory Transactions Division are responsible for processing such changes.

Change in Qualifying Holding/Acquiring Transaction Notification

There are certain restrictions on acquiring and disposing of qualifying holdings in (re)insurance undertakings. A ‘qualifying holding’ means a direct or indirect holding in the undertaking which represents 10% or more of the capital or of the voting rights or which makes it possible to exercise a significant influence over the management of the undertaking.

The Central Bank may oppose a change in holding if it is not satisfied with the Fitness & Probity of the person/institution proposing to acquire a holding.

An application for a proposed change in qualifying holding must be made on the Acquiring Transaction Notification Form (an MS Word Version of the form is also available). For further information on the assessment process, please see the ‘Joint Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the banking, insurance and securities sectors’.

Please note that any acquiring transactions and increases in qualifying shareholdings completed without prior notification to (or without assessment by) the Central Bank have no legal validity.

Other Changes

If there is any uncertainty regarding whether a change constitutes a material change for supervisory purposes you should contact your supervisory team directly.