Document library

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

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

PEPP

PEPP Impact Assessment

Taxonomy | Sustainability | Financial stability

The EU sustainable finance taxonomy from the perspective of the insurance and reinsurance sector

This article investigates how much investment held by insurers may be eligible to the EU sustainable finance taxonomy. To this aim, Solvency II item-by-item investment data is employed. As part of the Green Deal, the Commission presented the European Green Deal Investment Plan, which will mobilize...
Financial stability | Supervision

The impact of EIOPA statement on insurers dividends: evidence from equity market

Abstract In an environment of a quick unfolding crisis with high uncertainty, the European Insurance and Occupational Pensions Authority issued on 2nd April 2020 a statement requesting (re)insurers to suspend all discretionary dividend distributions and share buy backs aimed at remunerating...
Financial stability

EIOPA Financial Stability Report July 2020

During the last months, the Covid-19 outbreak further proved the importance of the Solvency II regulatory framework. The market-consistent and risk based approach helped insurers to better align capital to risk, build-up resilience and enhance the risk management practices, while the adjustments...
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.
Shared resilience solutions | Protection gap | Sustainability

Issues Paper on resilience solutions for pandemics

The paper recognises that private insurance solutions alone will not be sufficient to protect society against the financial consequences of future pandemics. Solutions will require both public and private sector involvement, and build on the following four key elements: Proper risk assessment Risk...
PRIIPs

Letter of the ESAs on outcome of ESA review of the PRIIPs Delegated Regulation

In this letter, the three Supervisory Authorities inform the Director General of DG FISMA, John Berrigan, about the outcome of the review by the European Supervisory Authorities (ESAs) of the PRIIPs key information document (KID) following the Consultation Paper published on 16 October 2019 on the...
Financial stability

Impact of ultra low yields on the insurance sector, including first effects of COVID-19 crisis

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...
Sustainability

ESA's letter to Vice-President Dombrovskis on the Consultation on a Renewed Sustainable Finance Strategy

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...
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...
Stress test | Sustainability

Second Discussion Paper on Methodological Principles of Insurance Stress Testing

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...
Reporting | Supervision

Peer Review on the Regular Supervisory Report

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...
Supervision

Report on Supervisory Activities 2019

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...
Organisation | IORP

Decision on EIOPA's regular information requests towards NCAs regarding the provision of occupational pensions information

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...
Organisation

Annual report 2019

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...
Reporting

Letter to EVP Dombrovskis from ESAs Chairs regarding the public consultation on revising the Non-Financial Reporting Directive

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...