The Central Bank of Ireland informed the Financial Conduct Authority on 19 February 2018 that it has issued a direction to CBLIE instructing it to cease writing new business with immediate effect, until further notice.
CBLIE continues to otherwise operate normally and existing policies continue to remain in force.
The Central Bank of Ireland has required CBLIE to write to all appointed insurance brokers and distribution partners to inform them of the direction. The Central Bank of Ireland has also requested that all appointed brokers and distribution partners, with which CBLIE is connected, inform policyholders. Any existing CBLIE policyholders who have concerns about their policy should contact the firm directly, or their broker (if the policy was bought through a broker).
You can find out more information and a Q&A from the Central Bank of Ireland and the European Insurance and Occupational Pensions Authority (EIOPA).