- Ireland traditionally popular for direct writing captives
- Solvency II led to a reduction in new formations
- Ireland is facing increasing competition from other European domiciles
- Long application process putting off prospective captives
- Open dialogue under way with Central Bank to improve procedures
There is a sense of optimism that potential changes concerning captive regulatory procedures at the Central Bank of Ireland (CBI) could help put Ireland “back on the radar” after a period of stagnant captive activity.
Ireland was an early pioneer in direct writing captives in Europe, and experienced swift growth following the inception of its captive regulation, with the first direct writing captive formed in 1989.
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