Estimates put close to 20% of EU citizens at risk of poverty or social exclusion in older age. This makes pensions adequacy and coverage becomes a priority for governments.Yet, for many people pensions are a complex and confusing, and this makes people reluctant to invest in long-term savings...

Although financial markets have gradually stabilised after the initial sharp drop in asset prices triggered by the COVID-19 outbreak, the ongoing lockdowns in most European countries cause uncertainty and medium-term risks for the economies. In addition, potential cliff-edge effects could...

Why does EIOPA think it is important for insurers to take into account the risks of climate change now and focus on this part of the strategic agenda of the European Union, rather than other challenges?“Of course we prioritize all areas, but I think arguably all issues related to climate change...

Set up in 2011, the European Insurance and Occupational Pensions Authority (EIOPA) is the European body responsible for insurance and occupational pensions. The EIOPA’s first chairman, Gabriel Bernardino, is retiring next month, and BRINK spoke to him about the need for shared resilience and...

At the end of March, with his successor as yet unannounced, Gabriel Bernardino will step down as chair of the Frankfurt-based European insurance and occupational pensions supervisor after 10 years in office. He was there from the very beginning, building up EIOPA from the Committee of European...

ProportionalityBernardino describes the changes in how Solvency II would be tailored for smaller and less-risky insurers as a “paradigm shift”.Some notable stakeholders including Karel Van Hulle had called for the right for proportional treatment to be included in the text of the directive, and...

The European Insurance and Occupational Pensions Authority (Eiopa) has grown steadily since it was officially established in 2011, but the next few years marks a considerable step up in its budget, staffing and responsibilities.The authority holds an unusual position in the oversight of insurers...

EIOPA delivered a set of draft regulatory and implementing technical standards to the European Commission back in August. What were your key considerations while drawing up these standards?I think this was a very important step for us towards the finalisation of the framework of the PEPP, and our...

The EU should play a “key role” in establishing pandemic insurance to protect businesses in future outbreaks, said Gabriel Bernardino, chairman of the European Insurance and Occupational Pensions Authority.Bernardino said in an interview last week that Europe has an “opportunity” to head off...