The European Commission’s proposal for an Insurance Recovery and Resolution Directive (IRRD) was adopted in September 2021 as part of the Solvency II (SII) review package. Since then it has been under consideration by European Parliament and the Council of the European Union.In order to provide...

The European Commission’s proposal for an Insurance Recovery and Resolution Directive (IRRD) was published in September 2021. The legislative proposal is currently under consideration by the European Parliament and the Council of the European Union.A recent EIOPA Staff paper provides an overview...

Following the publication of the Supervisory Statement on Value for Money in November 20211, as highlighted therein, EIOPA has worked on a methodology to ensure a consistent and convergent approach towards the implementation of said Supervisory Statement.While the methodology is for support and...

This report describes to what extent the National Competent Authorities (NCAs) have implemented the recommended actions addressed to them as aresult of the peer review on propriety of Administrative Management and Supervisory Body (AMSB) members and qualifying shareholders in 2019. In addition, it...

EIOPAhas set out its strategy for the period 2023 – 2026.Under the overall vision of building a safe and sustainable EU for citizens in times of transformation, EIOPA has identified strategic priorities on which to focus.Sustainable financeDigital transformationSupervisionPolicyFinancial...

The Single Programming Document 2023-2025 sets out EIOPA’s strategy and work programme for the coming years and includes the Annual Work Programme for 2023.

The European Supervisory Authorities (ESAs) have developed through the Joint Committee (JC) draft Regulatory Technical Standards (RTS) with regard to the content and presentation of information to be provided in pre-contractual documents, on websites, and in periodic reports about the exposure of...

In 2023 the Joint Committee work will continue to focuson areas such as consumer protection, sustainable finance, risk assessment, securitisation, digitalisation and financial innovation, among others.

With this warning EIOPAis calling on insurers and banks (acting as insurance distributors) to ensure CPIproducts offer fair value to consumers by:taking action to address issues with high remuneration paid by insurance manufacturers to insurance distributors for the sale of credit protection...

EIOPA,with the support of National Competent Authorities (NCAs), hasconducted athematic reviewon the functioning of the EU market for credit protection insurance (CPI) products sold via banks(acting as insurance intermediaries) and how well it succeeds in delivering good consumer outcomes.The...

The frequency and sophistication of cyber incidents in the financial sector has increased substantiallyover the course of the last few years, as economic and financial activities have been heavily digitalised.Against this backdrop, EIOPA recommends NCAs to dedicate higher attention to the...

As the frequency of systemic events increases, there is a risk that insurance products covering them become unaffordable or unavailable. At the same time, products covering such events or products silent about the coverage may explicitly exclude them in the future. These developments have the...

The Annual European Insurance Overview is an extension of EIOPA's 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 a high coverage...

This Opinion provides EIOPA’s views on the decision and observationsof the European Parliament in respect of the implementation of the budget for the financial year 2020in accordance with Article 106 of the EIOPA Financial Regulation. It highlights the measures taken by EIOPA to address the...

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) issued today their Autumn 2022 joint risk report. The report highlights that the deteriorating economic outlook, high inflation and rising energy prices have increased vulnerabilities across the financial sectors. The ESAs...

Reliable data is the basis for successful,data-driven supervision, evidence-based decision making and micro- and macro-prudential analysis. EIOPA is therefore constantly working to assess and improve the quality of the available insurance reporting data. After six years of Solvency II prudential...

European Commission's call for advice to the ESAs on greenwashing risks and the supervision of sustainable finance policies

This application guidance is a follow-up from EIOPA’s Opinion on the supervision of the use of climate change risk scenarios in ORSA (“Opinion”) published in April 2021 (EIOPA-BoS-21-127 - EIOPA, 2021a). The Opinion was addressed to the national competent authorities on the basis of Article 29(1)...

Report to the Commission under Article 18 of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector.