Kerry insurance firm reprimanded and fined by the Central Bank

Company failed the seek approval for the appointment of three senior positions

The three directors were appointed in January 2018 but the company did not submit any application forms for approval of the individuals until more than a year later.

An insurance company in Kerry has been reprimanded and fined after failing to obtain approval from the Central Bank of Ireland before appointing three individuals as directors of the firm.

Insure4Less Teoranta trading as Kerry Insurance Group was fined €8,400 in respect of three breaches of fitness and probity (F&B) obligations under the Central Bank Reform Act 2010. The Firm has admitted to the breaches.