The new Director of Insurance Supervision at the Central Bank will lead the delivery of "intrusive supervision" of insurance firms here.

That's according to the bank’s Deputy Governor, Ed Sibley, who said Domhnall Cullinan would seek to ensure insurers are rising to the considerable challenges they face today and into the future.

Mr Cullinan has 25 years experience in the financial services industry, the regulator said, as well as a deep knowledge of the insurance sector and a strong track record of delivery in the public and private sectors.

The current Head of Insurance Supervision at the Central Bank, he takes up the role at a time of intense scrutiny of the insurance sector here, amid evidence of spiraling premium costs and rising cost of claims.

Mr Cullinan will lead the Insurance Supervision Directorate, comprising the Insurance Supervision Division and the Insurance Actuarial, Advisory and MIIF Division.

Also today, the Cental Bank announced Louise Dennehy as its new Chief Information Officer.

Ms Dennehy has over 20 years’ experience in IT within the financial services industry, including in a number of Head of IT roles.  

Since 2017 she has been leading the IT Delivery Division of the bank.