On 7 May 2014, the Central Bank of Ireland published (a) Reserving Requirements for Non-Life Insurers and Non-Life and Life Reinsurers (the Requirements), (b) Guidance on Best Estimate and Margin for Uncertainty (for the purpose of the Requirements) and (c) a Feedback Statement regarding the consultation preceding the Requirements. The Central Bank has sought to impose the Requirements as a condition of authorisation and has requested that (re)insurers in scope provide an undertaking in writing by 30 June 2014 to comply with the Requirements. Key proposals contained in CP73 that have been retained include (a) a requirement that the role of signing actuary be designated a Pre-Approval Controlled Function under the Central Bank's Fitness and Probity regime and (b) giving a statutory footing to the obligation on insurers/reinsurers to submit an annual statement of actuarial opinion to the Central Bank. The Requirements are effective for the financial years ending on or after 31 December 2014.