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European Insurance and Occupational Pensions Authority

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Interviews & contributions (89)

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  • General publications

Addressing the protection gap: challenges and opportunities for (re)insurers

The new EU strategy on adaptation to climate changehighlights the fact that affordability and insurability of natural catastrophes insurance coverage is likely to become an increasing concern. Research shows that in the past only a quarter of the total losses caused by extreme weather and climate...

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Contribution
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Sustainability
  • General publications

Digital Operational Resilience: a challenge for the supervisory community

Digital operational resilience refers to the ability of a financial entity to build, assure and review its operational integrity and reliability.The financial sector has always relied heavily on information and communication technology (ICT) and this reliance grew during the COVID-19 pandemic as...

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Contribution
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Digitalisation
  • General publications

Fine-tuning needed to ensure investors contribute to the European Green Deal

There is no question that urgent action is required to address climate change and that environmental protection should be integrated into economic growth strategies. In the financial sector, insurance and pension funds have the longest investment time horizons and hence the greatest stake in...

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Contribution
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Sustainability
  • General publications

Interview of Petra Hielkema

INESE: You have just completed six months at the helm of EIOPA, what has been your focus during this time?Petra Hielkema: I have had a good first half year. It has been easy because my predecessor did a great job. But, at the same time, it has been a rollercoaster because I had to meet with many...

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Interview
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Petra Hielkema
  • General publications

EIOPA is calling for a Europe-wide Insurance Guarantee Scheme

Mrs Hielkema, what impact could the war in the Ukraine have on the insurance industry?The first we did is to assess the direct impact. And here we see that there is very limited impact. The exposure of both insurance as well as the occupational pension sector to Russia, is low. It’s 0.1%. for the...

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Interview
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Solvency IISupervision
  • General publications

Reviewing Solvency II: Keeping the regime fit for purpose

The Solvency II Directive came into effect in Europe on 1 January 2016 and was a true milestone, resulting in real progress in terms of risk management and the harmonisation of prudential standards in the European Economic Area. The insurance industry now uses a risk based approach to assess and...

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Contribution
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Solvency II
  • General publications

AI governance: Ensuring a trusted and financially inclusive insurance sector

Without question, artificial intelligence – or AI – plays a vital role in Europe’s digital transformation and is already having – and will continue to have – considerable impact in all areas of financial services.This is certainly true for the insurance sector, where data processing and...

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Contribution
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Digitalisation
  • General publications

Solvency II: Leading the way in managing sustainability risk

Sustainability risks are of growing relevance for the investment and underwriting activities of insurers, as they can materialize, for example, through investment losses related to stranded assets, increased insured losses or reputational risks. In order to tackle climate change, insurers have set...

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Contribution
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Solvency II
  • General publications

Stress tests and ORSAs are good for climate risk management

Speaking very broadly, insurers have three areas of focus on sustainability and climate: their underwriting; their investments; and their operations. Do all these areas needs oversight from insurance supervisors?If you look at it from a risk perspective, there are sustainability risks in...

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Interview
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ORSAPetra HielkemaSustainability
  • General publications

European insurers during the COVID crisis

We are still going through one of the most challenging periods, with the COVID crisis putting at risk numerous businesses and creating unprecedented situations. In this context, financial stability is probably more important than ever in the insurance industry. What were, in your opinion, the most...

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Interview
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Financial stability