On 21 December 2016, the Central Bank published Guidelines on the Compliance Statement in accordance with Section 26 of the Corporate Governance Requirements for Insurance Undertakings 2015 (the Requirements). Sections 4.3 and 26 states that insurers must submit a compliance statement to the Central Bank annually. The guidelines provide useful assistance to insurers and their directors in preparing the Compliance Statement, fleshes out what the Central Bank's expectation from the Compliance Statement and provides guidance on topics such as use of information by the Central Bank, confidentiality, combining compliance statements with existing reporting requirements and retention of supporting documentation. In the appendix to the guidelines there is a sample compliance statement and overview of board and sub-committees.

A link to the guidelines is here.