24 Oct The Blue Book Is No More
The Central Bank has announced the discontinuation of the Annual Insurance Statistics Publication, once known as the “Blue Book”.
As Ireland implements new regulations from the European Union, a decision was made to retire the Blue Book and to move to new reporting approach. The Blue Book was unique to Ireland and of huge interest to the media as it released individual firm information.
The Annual Insurance Statistics Publication was generally released every year at the end of Quarter Three.
The Blue Book will be replaced with the Solvency & Financial Conditions Report (SFCR). The new SFCR will provide detailed information on premiums, claims, solvency and other information. All major insurers have now submitted their returns to the Central Bank for the new reporting structure. It will be interesting to review the new report as the information will exceed that which was previously available in the old Blue Book.
The Central Bank is looking to develop an online portal providing access to all SFCRs that have been submitted. It is anticipated that the online SFCR library will be available online at centralbank.ie before year end. The Central Bank will share initial findings from the SFCR at the upcoming Insurance Industry Briefing which is due to take place on 24th October 2017.