Central Bank of Ireland hires insurance supervisor

The Central Bank of Ireland has appointed Sylvia Cronin, a former AXA executive, as the director of insurance supervision.

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.

Cronin has spent the majority of her career working in the insurance industry, most recently as the chief executive of Augura Life Ireland, a position she has held since 2010.

Previously she was the chief executive of MGM International Assurance and spent several years with the AXA Group where she was head of business development, services and marketing in Ireland. She began her insurance career with the Fortis Group where her focus was on IT management.

Cyril Roux, deputy governor, said: “I am pleased to confirm the appointment of Sylvia as the new director of insurance supervision. She joins the Central Bank at an important time for insurance regulation with the forthcoming implementation of Solvency II.”