Details
- Status
- Closed
- Opening date
- Deadline
Target audience
Interested stakeholders
Why we are consulting
These RTS specify the conditions under which a candidate valuer is deemed to be independent from both the resolution authority and the entity under resolution and may perform the valuation of an entity’s assets and liabilities.
The consultation is related to the implementation of the European Union’s Insurance Recovery and Resolution Directive (IRRD).
The IRRD, which is set to become operational in January 2027, introduces a recovery and resolution framework tailor-made for (re)insurers in Europe. The Directive puts the focus on the importance of pre-emptive planning and effective crisis management and aims at maintaining the stability of Europe’s insurance sector while also allowing for the orderly wind-down of failing undertakings and groups. The IRRD will make insurance failures less likely and limit the impact of failures when they do happen, making the management of insurance failures more effective and cost-efficient.