Such action would prevent financial firms that do not own a bank, but that nonetheless pose risks to the overall financial system because of the size, risks, or interconnectedness of their financial activities, from avoiding comprehensive supervisory oversight.
As this is my first speech to an insurance audience since my appointment as Deputy Governor, I will cover three broad topics: i) the work of the Central Bank of Ireland (Central Bank) in the context of the European Supervisory Framework, ii) regulatory priorities for 2018; and iii) matters most relevant to the theme of your conference today, “InsurTech & Innovation”.