Complementary information request on the holistic impact assessment of the Solvency II review

On 2 March 2020, EIOPA launched an information request on the impact of the draft advice for the 2020 review of Solvency II. Insurance and reinsurance undertakings from the European Economic Area and subject to Solvency II were requested to report on the combined impact of those proposals with a material impact on the solvency position of undertakings with reference date 31 December 2019. 

In view of the Covid-19 pandemic and its impact on financial markets and the insurance business that information request will be complemented with the current request. The objective of this complementary request is to collect: 

  • updated data on the combined impact of proposals, similar to the information request for the holistic impact assessment, but with a reference date of end-June 2020 
  • specific data on the impact of the Covid-19 pandemic on the insurance business, for example the impact on lapse rates or medical expense claims. 

Insurance and reinsurance undertakings should submit the completed reporting template to the respective national supervisory authority by 14 September 2020. The template should be filled according to the instructions in the technical specifications and taking into account the technical information.