Document library

Reports, opinions, papers, technical standards, guidelines, surveys, etc

Reports, documents and other publications dated before 2018 can be found in the archive.

Risk assessment | Supervision

Opinion on the use of risk mitigation techniques by insurance undertakings

The Opinion addresses the use of risk mitigation techniques and includes a set of recommendations addressed to national competent authorities (NCAs) to ensure convergent supervision. This Opinion raises awareness about the importance to have a proper balance between the risk effectively transferred...
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...
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...
Stress test | Financial stability

Impact of EU-wide insurance stress tests on equity prices and systemic risk

Since the global financial crisis in 2007, stress tests have become standard tools for regulators and supervisors to assess the risks and vulnerabilities of financial sectors. To this end, the Insurance and Occupational Pensions Authority (EIOPA) regularly performs EU-wide insurance stress tests...
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...
Big Data | InsurTech | Innovation

Artificial intelligence governance principles: towards ethical and trustworthy artificial intelligence in the European insurance sector

The report builds on recent international and EU developments in the area of digitalisation and AI. The report highlights the proliferation of AI in insurance. For instance, AI allows insurance companies to carry out more granular risk assessments and pricing practices, increasingly efficient...
Solvency II

Letter to the European Commission on the amendment to background impact assessment of the 2020 review of Solvency II

Letter regarding the amendment to the background impact assessment of the 2020 Solvency II review. More on the Solvency II opinion
Organisation

Annual Report 2020

Regulation

Amended Implementing Technical Standards (ITS) on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs)

The amendments of the Implementing Technical Standards (ITS) reflect: the recognition of two new credit rating agencies (CRAs); the outcome of a monitoring exercise on the adequacy of existing mappings; and the deregistration of a number of CRAs. The ITS are part of the EU Single Rulebook for...
Reporting | PEPP | Supervision

Guidelines on PEPP supervisory reporting

The Guidelines ensure the common, uniform and consistent application to the PEPP supervisory reporting regarding the details of the nature, scope and format of the information to be submitted by the PEPP providers to the competent authorities at predefined intervals and upon occurrence of...
Regulation

Joint committee report on the implementation and functioning of the securitisation regulation

This report aims to identify the status of the application of the Securitisation Regulation (Regulation (EU) 2017/24021) (SECR) as well as some initial inconsistencies and challenges that occurred in the first years of implementation of the SECR and which may affect the overall efficiency and...
Stress test

2021 Insurance stress test factsheet

The 2021 stress test exercise focuses on a prolonged COVID-19 scenario in a “lower for longer” interest rate environment and evaluates its impacts on the capital and liquidity position of the entities in scope. The 2021 stress test exercise aims to assess the resilience of the participants to the...
Risk-free rate | Solvency II

Consultation on the proposal for IBOR transitions

EIOPA welcomes comments on the consultation on Interbank Offered Rates (IBOR) transitions. EIOPA seeks to adopt a common approach for all currencies on the transition to the new rates in order to continue producing consistent RFR term structures. EIOPA will consider the feedback received and will...
Innovation

Discussion paper on blockchain and smart contracts in insurance

The aim of the paper is to provide a high-level overview of risks and benefits of blockchain and smart contracts in insurance from a supervisory perspective as well as to gather feedback from stakeholders. The feedback is welcome to all parts of discussion paper covering blockchain, smart contract...
Risk assessment | IORP

Consultation on draft Opinion on the supervision of long-term risk assessment by IORPs providing DC schemes

EIOPA welcomes comments on the draft Opinion on the supervision of long-term risk assessment by IORPs providing DC schemes. The Opinion aims at enhancing supervisory convergence in the supervision of risk management by IORPs providing DC schemes. The Opinion is provided to the competent authorities...
IORP

Consultation on draft Opinion on the supervisory reporting of costs and charges of IORPs

EIOPA welcomes comments on the draft Opinion on the supervisory reporting of costs and charges of Institutions for Occupational Retirement Provision (IORPs). The Opinion aims at enhancing supervisory convergence in the supervision of IORPs. The Opinion is provided to the competent authorities as...
ORSA | Sustainability

Opinion on the supervision of the use of climate change risk scenarios in ORSA

In this Opinion EIOPA sets out expectations on the supervision of the integration of climate change risk scenarios by insurers in their ORSA.