deposits to more productive use of their finances. this in turn will support their overall financial wellbeing. we must also do more in terms of financial literacy. at a recent national financial literacy strategy stakeholder event, i spoke about the importance of financial education and how a well - rounded national strategy will make a significant difference to citizens in terms of being more financially confident and secure. one of the measures we have implemented at the central bank is around the operation of our online consumer hub, 4 / 6 bis - central bankers'speeches where we have published plain language explainers and videos to inform and educate consumers. we have more to do this in regard, but we hope that the consumer hub is a useful source of information and will build on this over time. to understand these issues in more detail, the central bank will be undertaking analysis and research on retail market participation in ireland. this will involve a targeted, large scale, consumer survey of investors and non - investors to gain a clearer understanding of key drivers and barriers to retail investor participation. we hope that this analysis and consumer research will also inform other policy makers in developing approaches to increasing participation levels in appropriate investment products which can help consumers grow their wealth over time, thereby contributing to their financial well - being. our research will explore important attitudinal and behavioural factors that may impact investment participation. it will also look at factors such as the role of financial literacy, trust in financial institutions and the information provided to consumers. conclusion as a leading, well regulated, funds jurisdiction in europe, the sector has an important role to play in supporting the eu's savings & investments union, and linking savers to the real economy, funding investment opportunities and providing an important source of finance for business. the financial services sector has a very important role in ensuring that consumers are provided with the tools, insights and options to make the best financial decisions for themselves. in ireland, we need to highlight to consumers the benefits of investing in regulated products to better secure their financial future. etfs and other investment funds can play a role in this, but we need to remove barriers to entry, put the right structures in place, and inform consumers of investment opportunities in order to increase retail participation. as i noted earlier, irish etfs have grown significantly over the past decade. it is a success story for the jurisdiction and reflects well on the sector and on the importance of a robust regulatory environment that offers certainty and stability. it will no doubt be interesting to see

exported from ireland2. our approach to regulation and supervision must be appropriate, proportionate and effective for all these markets and the complex array of firms operating within them. to this end, we seek to operate to and influence the european norms of regulation and supervision3. our focus on improving the resilience of irish authorised insurance firms from both a financial resources and a business model perspective, together with driving improvements in governance, 1 / 7 bis central bankers'speeches risk management and culture should contribute to the stability of those insurance markets while ensuring that policyholders can continue to have confidence that their policies will pay - out when required. of all these different markets, the domestic non - life insurance market spends the most time in the spotlight, due to both its importance and the challenges in it, including the volatility of premiums over the last few years and the availability of insurance in certain sectors and for certain risks. before, moving into areas within the remit of the central bank, it is important to emphasize that all actions that reduce the frequency and impact of injuries are obviously worthwhile. improvements in transport infrastructure ; enforcement of road safety rules ; public awareness campaigns ; and on - going emphasis on health and safety can all contribute to a reduction in the frequency and impact of injuries. there is also work underway to reduce the impact of fraudulent claims and uninsured driving. the irish non - life market is served by firms authorised in ireland and elsewhere in the european union. indeed, this provision of service from abroad is an important element of the market in ireland, as it facilitates : greater competition, lower premiums than otherwise would be the case ; and greater choice. nonetheless, as we have seen with the failure of overseas insurance providers, there are inherent risks with this model, which require continued work at a european level to drive improved convergence of supervisory practices and, critically, greater consistency in insurance protection schemes and the approach to resolving failing insurance firms. this continues to be a priority in our engagement at a european level. it also requires those intermediating between some of these firms and irish consumers to take more responsibility for assessing the financial soundness and resilience of the underlying insurer. the actions from the cost of insurance working group4 are focused on addressing some of the underlying factors contributing to insurance costs being higher in ireland than many other eu countries. i welcome these measures, including those set out within the second personal injuries commission ( pic ) report5 to bring greater consistency and standardisation to personal