Reports and research

Consumer protection

Consumer Trends Report 2021

The Consumer Trends Report 2021 and the risk heat-map provide a snapshot of the impact of the COVID-19 crisis on the insurance and pension sector from a consumer protection perspective, highliting a fast-forwarded digitalisation trend with underlying opportunities, but also some concerns from a...
IDD

Report on the application of the Insurance Distribution Directive

Amongst others, this report examines: any changes in the insurance intermediaries' market structure; any changes in the patterns of cross-border activity; the improvement of quality of advice and selling methods and the impact of the IDD on insurance intermediaries which are small and medium-sized...
IDD

Annual report on sanctions under the Insurance Distribution Directive during 2020

The European Insurance and Occupational Pensions Authority (EIOPA) published its second annual report on administrative sanctions and other measures imposed during 2020 by national competent authorities under the Insurance Distribution Directive (IDD). In 2020, national competent authorities...
Reporting | Solvency II

Report on limitations and exemptions from Solvency II reporting during 2020 and Q1 2021

The report is based on the Solvency II annual and quarterly quantitative reporting templates with reference during 2020 and the first quarter of 2021, as submitted to EIOPA by solo undertakings or insurance groups from the European Economic Area. The results show that proportionality is implemented...
Stress test

2021 Insurance stress test report

Financial stability

Financial Stability Report December 2021

The December 2021 Financial Stability Report examined key macroeconomic developments, including the effects of the ongoing COVID-19 pandemic, and the prevalence of risks that are key for the insurance and pension sectors.
IORP

Report on Cross-border IORPs

Supervision

Report on the independence of National Competent Authorities

The report takes stock of the situation on NCAs independence along key aspects i.e. operational independence, financial independence, personal independence as well as accountability and transparency. It should be noted that this report does not represent an assessment of NCAs independence. Rather...
Supervision

Failures and near misses in insurance

The report aims at enhancing super­visory knowledge on the prevention and management of insurance failures, based on the information contained in the EIOPA data­base, which comprises a sample of 219 affected insurance undertakings in 31 European countries, dating back from 1999 to 2020.
Statistics

European Insurance Overview 2021

The Annual European Insurance Overview is published by EIOPA as an extension of its statistical services in order to provide an easy-to-use and accessible overview of the European (re)insurance sector. The report is based on annually reported Solvency II information. This ensures that the data has...
Risk-free rate

Report on EIOPA's approach for the implementation of IBOR transitions

This report highlights EIOPA's policy approach for the implementation of Interbank Offered Rates (IBOR) transitions. This report includes a summary of the comments received by the stakeholders, the final methodology to perform the IBOR transitions, as well as the results of the information request...
Supervision

Criteria for the independence of supervisory authorities

The independence of supervisory authorities is crucial for the legitimacy and credibility of the supervisory process. For public bodies, independence and good governance are necessary to avoid possible conflicts of interest and to reduce the likelihood of undue external influence on supervisory...
Risk assessment

Joint Committee Report on risks and vulnerabilities in the Eu financial system - Autumn 2021

The report highlights the increasing vulnerabilities across the financial sector, the rise seen in terms of cyber risk and the materialisation of event-driven risks.
Solvency II | Supervision

Follow-up report on the Peer review of key functions: Supervisory practices and application in assessing key functions

This report is a follow up to the Peer review of key functions: Supervisory practices and application in assessing key functions . The report assesses how national competent authorities have implemented the recommended actions from the original peer review. Peer reviews assess the application by...
Supervision

Report on EIOPA Supervisory Activities in 2020

This report presents how EIOPA contributed during 2020 to enhancing the common European supervisory culture and promoted consistent supervisory practices both from a prudential and conduct of business supervision perspective.
Sustainability | Impact underwriting

Report on non-life underwriting and pricing in light of climate change

The frequency and severity of natural catastrophes is expected to increase due to climate change. As underwriters of natural catastrophe risks, the (re)insurance sector can be particularly impacted by climate change. The increasing risk can lead to insurance coverage becoming unaffordable for the...
Solvency requirements | Sustainability

Methodological paper on potential inclusion of climate change in the Nat Cat standard formula

The frequency and severity of natural catastrophes is expected to increase due to climate change. To ensure continuing policyholder protection and stability of the insurance market, the Solvency Capital Requirements (SCR) for natural catastrophe underwriting risk should reflect the expected impact...
Sustainability | Financial stability

Climate change, catastrophes and the macroeconomic benefits of insurance

This article considers the protective role that insurance can play in mitigating the negative macroeconomic and welfare impact of catastrophes, and the interplay between climate change and insurance coverage. The article first develops a theoretical model of insurance, climate change, catastrophes...
Financial stability

Financial Stability Report July 2021

The Financial Stability Report - July 2021 addresses key financial stability risks in the European insurance and pension sector. The report emphasizes that the pandemic crisis is still not over and many uncertainties remain despite the progress in vaccination campaigns and decreasing trends in the...