Domestic

CBI Investment Firm and Intermediary Newsletter June 2026

In the Central Bank of Ireland's (CBI) first Investment Firm and Intermediary Newsletter of 2026, the CBI highlights a number of insurance industry updates:

• The CBI has commenced a sector-wide mapping and profiling review of retail intermediaries. Through this review, which will include a survey to all retail intermediaries, the CBI aims to gain insight into the sector in order to develop its supervision strategy.
• The CBI has concluded its review of the disclosure of commission arrangements to retail customers. The review found that while firms are broadly complying with regulatory requirements, there is some variance in the consumer-friendliness of the approaches.
• The B-Form Application Form for authorisation as a retail intermediary and accompanying guidance note have been amended, including to introduce new questions relating to third-country branches. Applicants must now confirm whether third-country branches will carry out regulated activities on their behalf, why the use of a third-country branch is justified, and demonstrate clear oversight and monitoring arrangements of the third-country branch.

European

The European Insurance and Occupational Pensions Authority published its 2025 Annual Report

In June, the European Insurance and Occupational Pensions Authority (EIOPA) published its Annual Report for 2025. The report reflects on the work done by EIOPA over the previous year and its achievements. 

EIOPA reports success in contributing to building up sustainable insurance, through its promotion of sustainability integration by addressing protection gaps, issuing guidance on governance requirements and prudential treatment of sustainability, and encouraging insurers to embed climate risk into their strategy and capital assessments. 

EIOPA continues to promote sound and consistent supervision (particularly in a cross-border context) and details its focus on regulatory simplification and burden reduction, through its ongoing work with the review of Solvency II and developing technical standards to simplify the implementation of the Insurance Recovery and Resolution Directive (IRRD).

In the age of digitalisation, EIOPA shows its ongoing support to insurers in navigating digital and cyber risks by monitoring and raising awareness on the use of digital technologies in the market.

Looking forward, EIOPA has defined its new strategy for the coming years, which focuses on strengthening the Single Market, improving resilience to risks, and streamlining supervision.

EIOPA’s Financial Stability Report shows continued resilience in insurance amid geopolitical uncertainty and evolving structural risks

On 24 June 2026, EIOPA published its June 2026 Financial Stability Report (the report). The report assesses the resilience of the insurance sector despite increased geopolitical uncertainty, structural risks and market volatility, through maintaining robust capitalisation and liquidity.

European insurers remain well capitalised and liquid in 2025, with premium growth in life and non-life business supporting stronger cash flows and higher investment returns, boosting profitability. However, insurers are still faced with exposures such as repricing of risk premia, interest rate and foreign exchange volatility, claims inflation and broader international developments.

Reinsurers in the European Economic Area benefitted from favourable underwriting conditions and strong solvency positions, maintaining profitability even as premium growth slowed. Despite this, reinsurers should continue to monitor risks relating to natural catastrophes, geopolitical developments and disruptions to marine and aviation transport.

EIOPA reports on its 2025 oversight activities

On 26 June 2026, EIOPA published a report detailing its oversight activities undertaken in 2025. Notably, 2025 saw EIOPA’s oversight work extend to digital operational resilience issues for the first time following the implementation of DORA.

In its report, EIOPA notes the importance of bilateral agreements with Member State national competent authorities (NCAs). EIOPA specifically referred to country visits it made to NCAs, which, EIOPA states, assisted in promoting better supervision and greater supervisory alignment of undertakings by NCAs. Of the ten country visits made by EIOPA in 2025:

• three concerned prudential topics
• six concerned conduct of business supervision
• one concerned pension related matters

The report also details EIOPA’s participation in and collaboration with other supervisory authorities, specific NCAs and third countries with equivalent regulatory and supervisory regimes during 2025.

Date published: 30 June 2026

This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.