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In the current macro-financial environment, one of the major concerns for the insurance market is the exceptionally ultra-low/negative level of interest rates. In addition, the Covid-19 outbreak has severely affected the macroeconomic and market conditions worldwide, with the launch of support...

The European Supervisory Authorities (ESAs) welcome the European Commission’s consultation on a Renewed Sustainable Finance Strategy as part of its European Green Deal. The ESAs support the Commission’s ambition to strengthen the European policy framework to enhance the resilience of the financial...

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...

This second Discussion Paper is structured in three sections addressing the following topics: Stress test framework on climate change Approach to liquidity stress testing Multi-period framework for the bottom-up insurance stress testing The Discussion Paper is open for comments until Friday, 2...

The main tasks of EIOPA are to enhance supervisory convergence, strengthen consumer protection and preserve financial stability. Through its oversight function, underpinned by the Authority’s founding regulation, EIOPA supports national supervisory authorities in the task of delivering high-quality...

A key area of work in 2019 focused on proposing amendments to Solvency II in the context of the 2020 Review of Solvency II as a result of the identification of inconsistencies in the implementation of some areas of Solvency II. This knowledge lead in some cases to proposals to amend the legislative...

The first Decision on EIOPA's regular information requests towards NCAs regarding IORPs was adopted in April 2018. Its business requirements were mainly based on Solvency II 2.2.0 and the taxonomy was partially implemented in line with Solvency II taxonomy 2.3.0. On 2 June, EIOPA BoS approved...

Throughout the course of 2019, EIOPA continued to play an essential role in the supervision of insurance and pensions in Europe, working closely with national supervisory authorities, European institutions and other stakeholders to fulfil its strategic objectives set out in its annual work...

Dear Vice-President Dombrovskis, The European Supervisory Authorities (ESAs) welcome the European Commission’s consultation on the revision of the Non-Financial Reporting Directive (NFRD). The Commission’s consultation document addresses a number of important aspects of the future of the NFRD, and...

Technology continues to evolve, bringing new opportunities, social change and new expectations for consumers. In response, insurance undertakings and intermediaries continue to develop and revise their business models, often in increased co-operation with third parties (e.g. BigTech companies and...

This consumer guide provides information to consumers related to their insurance coverage during the COVID-19/Corona virus outbreak. The guide is currently available in below language versions.

The European Supervisory Authorities (ESAs) invite comments on all matters in this consultation paper on ESG disclosures under Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial sector (hereinafter “SFDR”) and in particular on the specific questions summarised in...

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...

This Opinion addresses how to ensure consistent practices in the application of the remuneration principles included in Solvency II. While the Solvency II framework provides for provisions of remuneration for sound and prudent management, the remuneration principles defined in the Delegated...