PwC Insurance Bulletin – Q2 2025

We welcome you to the Q2 2025 edition of our Insurance Bulletin. You’ll find key updates and insights into insurance industry developments – at both domestic and European levels.

Domestic developments

From an Irish perspective, Q2 news revolves around the Central Bank of Ireland (CBI), which: 

• removed external audit requirements for captive (re)insurers under Solvency II

• published its revised General Good Requirements for Insurance Undertakings for 2025, outlining cross-border regulatory expectations for insurance and reinsurance firms operating in Ireland – including reporting obligations and compliance with the revised Consumer Protection Code

• published its Q2 2025 Insurance Newsletter detailing updates and insights in the sector. 

EIOPA news

At a European level, updates include the European Insurance and Occupational Pensions Authority (EIOPA) launching six consultations to implement the Insurance Recovery and Resolution Directive (IRRD), which will be operational by 2027. 

EIOPA also:

• launched a survey on generative AI adoption in insurance operations with the aim to inform future supervisory expectations

• released a new study around natural catastrophe coverage and transparency, which revealed vague language in home insurance policies leading to the “illusion of being insured”

• conducted its first coordinated mystery shopping across eight member states to investigate how well products are matching consumer needs.