On 28 October 2015, the Central Bank hosted a breakfast briefing to discuss certain implications of Solvency II.  Amongst other matters, the Central Bank explained (a) that the recent restructuring of the insurance directorate was driven by factors including Solvency II preparation and volumes of cross border business and (b) proposed changes to its PRISM (Probability Risk and Impact SysteM) framework (e.g. revised risk categories).