New director of insurance supervision confirmed

The Central Bank has appointed Sylvia Cronin as the director of insurance supervision.

Ms Cronn, who has spent the majority of her career working in the insurance sector, is expected to take up the position later in the year.

Central Bank deputy governor Cyril Roux said Ms Cronin will assume responsibility for the prudential oversight of all general insurance, life insurance and reinsurance companies regulated by the Central Bank. Both General Insurance and Life Insurance divisions will report to her.

Ms Cronin joins the Central Bank from Augura Life Ireland, where she has served as chief executive since 2010. Previous to this she held a similar role with MGM International Assurance.

Ms Cronin, who started her insurance career with the Fortis Group, also worked for the AXA Group for several years where she was head of business development, services and marketing.