Strength through resilience, adaptability and trust – insurance for a stronger Europe - Speech by Deputy Governor McMunn at Insurance Ireland

Introduction Good morning and many thanks to Moyagh and the team in Insurance Ireland for the invitation to speak to you today. 1 The theme of this year’s Forum – a stronger Europe – is an important one, and is a question on the minds of policymakers, regulators and industry alike as Europe looks to meet its moment and respond to the challenging macro environment it is operating in. Navigating the shocks and the shifts we are facing. Adapting to structural challenge and change. And managing the risks and seizing the opportunities from the profound technological transformation underway. For in many ways we are living through a hinge point in history. Where the future is decided by how we respond to today. As I have said before, such a response must be grounded in the fundamentals of resilience, adaptability and trust. For we gain strength through resilience, to withstand the challenges we face. But in times of rapid change resilience is not enough – for a tree that cannot bend will break in the wind. 2 And so resilience must be combined with adaptability and responsiveness to change, as well as a focus on maintaining and securing trust, which underpins the whole of our financial sys

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