Irish supervisor sees insurance pricing as prudential issue

Regulator takes hands-on approach following insurance failures

CBI's Cronin: supervisor will challenge firms on premiums

The Central Bank of Ireland (CBI) is looking more closely at general insurance pricing as it responds to stiff criticism of its supervision of the industry in recent years – a move that could threaten insurers' autonomy in pricing insurance contracts.

"We will continue to challenge insurers to demonstrate the premiums they charge are commensurate with their expenses and the likely cost of claims," says Sylvia Cronin, head of insurance supervision at the regulator based in Dublin.

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