Document library

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

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

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.
Consumer protection

Cost and past performance report 2021

This report provides an analysis of costs for the year 2019 and past performance for the period 2015-2019. The products within scope for this iteration of the report are: Insurance-based Investments Products (IBIPs) and Personal Pension Products (PPPs). The report covers the European Union (EU)...
Consumer protection

Consultation on framework to address value for money risk in the European unit-linked market

This consultation is a response to EIOPA’s repeatedly highlighted concerns that, while unit-linked products can and often do offer important benefits for policyholders, costs for some unit-linked products continue to remain too high. Existing concerns have been heightened by the COVID-19 crisis...
Organisation

Joint Committee Annual Report 2020

In 2020, the Joint Committee under the chairmanship of the EBA, continued to have a central role for the coordination and exchange of information between the European Supervisory Authorities (ESAs), the European Commission (EC) and the European Systemic Risk Board (ESRB). Progress continued on...
Reporting | Solvency II

Report on the use of limitations and exemptions from reporting during 2019 and Q1 2020

This report focuses on the limitations and exemptions as applied by the national competent authorities (NCAs) in different markets in 2019 year-end and the first quarter of 2020 and highlight the difference with regard to the last year’s report. The limitations and exemptions on reporting foreseen...