Supervisory statements

ORSA

Supervisory Statement on ORSA in the context of COVID-19

The supervisory statement on Own Risk and Solvency Assessment (ORSA) in the context of COVID-19 pandemic focuses on the supervision of the internal processes of undertakings that are necessary for having a good quality ORSA in place. The statement is accompanied with the resolution of comments from...
Sustainability

Joint ESA Supervisory Statement on the application of the Sustainable Finance Disclosure Regulation

Update (27.07.2021) : Please note that the European Commission has sent on 8 July 2021 a letter to the European Parliament and Council announcing that it intends to bundle all 13 Regulatory Technical Standards (RTS) in a single delegated act and to defer the application of 1 January 2022 by six...
IORP | Supervision | Supervisory framework

Supervisory Statement on the sound practices within the registration or authorisation process of IORPs

The European Insurance and Occupational Pensions Authority (EIOPA) provides this Supervisory Statement on the basis of Article 29(2) of Regulation (EU) No 1094/2010 to promote common supervisory approaches and practices. This Supervisory Statement is based on Directive (EU) 2016/2341 (‘the IORP II...
COVID-19 | Reporting | Solvency II | Supervision

EIOPA Statement on Solvency II supervisory reporting in the context of COVID-19

Following EIOPA’s Recommendations of 20 March 2020 on annual and quarterly reporting and publication deadlines, EIOPA considers that insurance and reinsurance undertakings should now be in condition to comply with the deadlines provided in the Solvency II framework.
Consumer protection | COVID-19

Supervisory expectations on Product Oversight and Governance requirements amidst the COVID-19 situation

Following the statement issued on 1 April 2020 on mitigating the impact of the COVID-19 situation on consumers, and taking into account different measures taken by a number of insurance manufacturers, EIOPA considers it important to further clarify its expectations on the application of Product...
COVID-19

Statement on principles to mitigate the impact of Coronavirus/COVID-19 on the occupational pensions sector

1. The European Insurance and Occupational Pensions Authority (EIOPA) has been closely monitoring the coronavirus/COVID-19 developments in relation to the occupational pensions sector. As long-term investors Institutions for Occupational Retirement Provision (IORPs) can play a stabilising role in...
COVID-19 | Financial stability

EIOPA statement on dividends distribution and variable remuneration policies in the context of COVID-19

EIOPA considers that it is essential to ensure the access to and continuity of insurance services, safeguarding the ability of the insurance sector to continue to perform its role as risk transfer mechanism from citizens and businesses and its capacity to mobilize savings and invest them in the...
Financial stability

Supervisory Statement on the impact of the ultra-low/negative interest rate environment

Solvency II

EIOPA Supervisory Statement - Application Proportionality Solvency Capital Requirement

Supervision

ESAs Statement on variation margin exchange under the EMIR RTS on OTC derivatives

Statement by the European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) in response to industry requests relating to operational challenges in meeting the deadline of 1 March 2017...
Risk assessment | Solvency II

EIOPA Supervisory Assessment of the Own Risk and Solvency Assessment

This report outlines the EIOPA's analysis of the first supervisory experiences regarding the application of the regulation on the Own Risk and Solvency Assessment (ORSA) by (re)insurance undertakings. This assessment is part of the undertakings' risk management and regulated by Article 45 of the...