Consultation on revised Guidelines on the treatment of related undertakings - Solvency II Review

This consultation paper presents the draft revised Guidelines on treatment of related undertakings, including participations and its explanatory text. The current Guidelines have been applied since 2015. Based on the practical application of the Guidelines, several improvements have been identified. Some legal references were updated, and clarifications were added to reflect changes to the legal framework. The amendments to the Guidelines are solely for clarification and streamlining purposes with no intention to reduce supervisory expectations. They do not provide new guidance for the application of the legal framework. Therefore, the revisions are not expected to have a material impact on the insurance industry or supervisory authorities. Consequently, this consultation paper does not include an impact assessment of the proposed changes.