Aviation Industry Leaders Report 2025 | Peter Barrett, CEO, SMBC

Solvency II reform: a compliance exercise, or a strategic opportunity? As insurers prepare for the amending directive to apply from 30 January 2027, attention is increasingly turning from the detail of individual changes to what the reforms mean collectively for strategy, capital and decision-making. In the latest episode of KPMG Ireland’s Inside Insurance series, Clara McDonald, Lukas Ehlers and Himanshu Sikri bring together the topics covered across the series to date, taking a holistic look across all three Solvency II pillars and considering the strategic implications of the changes. From the potential capital released through the risk margin changes to the Volatility Adjustment, SCR, ORSA, proportionality and Pillar 3 reporting, we discuss what the reforms could mean for both life and non-life insurers.

In our latest Inside Insurance – Navigating Solvency II Reform video, Eoin King, Órlaith Lehane and Ogochukwu Nkado discuss one of the key new Pillar 2 requirements being introduced under the Solvency II Review – Liquidity Risk Management Plans (LRMPs). The session explores why liquidity has become an increasing regulatory focus, what insurers will be required to do from January 2027, and some of the practical implementation challenges firms are likely to face, including cash-flow projections, liquidity stress testing, governance, liquidity indicators and management actions. While many insurers may already have some of the building blocks in place through existing ORSA and Recovery Plan processes, LRMPs bring these elements together into a more structured and evidence-based framework. With implementation approaching, now is a good time for insurers to assess readiness and identify any gaps in their current liquidity risk management capabilities.

KPMG's Jean Rea sits down with Michael Leahy, President of Insurance Ireland, for a wide-ranging discussion on some of the most important developments affecting the sector today. Their conversation explores topics including: • The introduction of the new Personal Investment Account (PIA) and its potential impact on long-term savings and investment behaviour • The industry's implementation of the Right to be Forgotten framework for cancer survivors • Progress on flood insurance and improving protection for communities at risk • Ireland's strong role in the international and speciality insurance market

Ireland already has a recovery planning regime in place, but with IRRD applying from January 2027 what does that mean for Irish regulated insurers? In our latest Inside Insurance video, Jean Rea discusses with Brendan McCarthy and Matthew Green the potential impact of a more focussed harmonised regime with fewer market participants, the linkage with resolution planning, and the lessons that can be drawn from the more mature BRRD regime.

In the latest episode of Inside Insurance, Jean Rea is joined by David Fitzgerald from the Motor Insurers' Bureau of Ireland (MIBI) to where they discuss developments in the Irish motor insurance landscape including Continuous Vehicle Coverage (CVC) and the introduction of the Irish Motor Insurance Database (IMID). David shares insights into how these initiatives are helping to identify uninsured vehicles, strengthen enforcement capabilities and improve the accuracy and accessibility of motor insurance information.