EIOPA provided its technical advice in form of an Opinion on 17 December 2020.
Since January 2016, the EU (re) insurers are governed by the Solvency II regulatory regime. Gradual reviews have been undertaken since then to ensure that the regime remains fit for purpose. EIOPA supports the ex-post evaluation of the regulatory regime as an important element of better regulation by contributing to a rigorous, evidence-based and transparent review of Solvency II.
In an early first phase, the Commission adapted the Solvency II Delegated Regulation to review the treatment of infrastructure investments and the treatment of simple, transparent and standardised (STS) securitisation.
Following that, EIOPA provided advice on the review of the Solvency Capital Requirement Standard Formula.
The European Commission has asked EIOPA to provide technical advice for a comprehensive review of the Solvency II Directive.