News

Today, Národná banka Slovenska (NBS), the Slovakian national supervisory authority, has issued an interim measure banning new business from NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poisťovňa a.s. (NOVIS), until specified conditions are...

Today the European Insurance and Occupational Pensions Authority (EIOPA) published its updated Risk Dashboard based on the first quarter of 2020 Solvency II data.The results show that the risk exposures of the European Union insurance sector remain generally high compared to April as a result of...

Today the European Insurance and Occupational Pensions Authority (EIOPA) delivered to the European Commission a set of draft Regulatory and Implementing Technical Standards and its advice on Delegated Acts to implement the framework for the design and delivery of the Pan-European Personal Pension...

Today the European Insurance and Occupational Pensions Authority (EIOPA) launched its first Single Rulebook.The Single Rulebook is an online tool focused on Solvency II that further promotes the consistent implementation of the regulatory framework for insurance supervision.The main benefit of the...

Today the European Insurance and Occupational Pensions Authority (EIOPA) published its July 2020 Financial Stability Report of the (re)insurance and occupational pensions sectors in the European Economic Area.During the last months, the Covid-19 outbreak further proved the importance of the...

Today the European Insurance and Occupational Pensions Authority (EIOPA) published its Issues Paper highlighting options for developing shared resilience solutions for pandemic risk. The paper recognises that private insurance solutions alone will not be sufficient to protect society against the...

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.In the context of the current...

The European Supervisory Authorities (ESAs) have informed the European Commission of the outcome of the review conducted by the ESAs of the key information document (KID) for packaged retail and insurance-based investment products (PRIIPs). This follows the ESAs’ consultation paper published on 16...

Today, the European Insurance and Occupational Pensions Authority (EIOPA) has published a Supervisory Statement on the Solvency II recognition of schemes based on reinsurance with regard to COVID-19 and credit insurance.The Statement provides EIOPA’s view on the exceptional supervisory treatment–...

Today, at its first meeting, the Insurance and Reinsurance Stakeholder Group (IRSG) elected Michaela Koller (Insurance Europe) as Chair and Paul Fox (Finance Watch) as Vice Chair of the IRSG. On 16 July, the Occupational Pensions Stakeholder Group (OPSG) already elected Bernard Delbecque (European...

Due to COVID-19 outbreak, European Insurance and Occupational Pensions Authority is carrying out extraordinary calculations every two weeks to monitor the evolution of the relevant risk-free interest rate term structures (RFR) and the symmetric adjustment to equity risk (EDA). EIOPA is publishing...

Today, the European Insurance and Occupational Pensions Authority (EIOPA) published the calculation of the Ultimate Forward Rate (UFR) for 2021.EIOPA calculated the ultimate forward rate (UFR) for 2021 in accordance with the methodology to derive the UFR (p.p. 106-109).For the euro, the applicable...

Today, the European Insurance and Occupational Pensions Authority (EIOPA) published the report on the Impact of ultra-low yields on the insurance sector, including first effects of the COVID-19 crisis.The ultra-low interest rate environment remains a key concern for the insurance market. It...

The European Insurance and Occupational Pensions Authority (EIOPA) submitted today its response to the consultation of the European Commission on a renewed sustainable finance strategy. The aim of the European Commission’s strategy is to increase private investment in sustainable projects and...

To ensure the continuing fair treatment of customers in light of COVID-19, insurance manufacturers are asked to:Identify their products affected as a result of COVID-19Assess possible unfair treatment of customers for these productsConsider proportionate remedial measuresToday, the European...

The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) has appointed new members to the Insurance and Reinsurance Stakeholder Group (IRSG) and Occupational Pensions Stakeholder Group (OPSG). The two groups consist of a broad range of stakeholders...

The European Insurance and Occupational Pensions Authority (EIOPA) has published the technical information on the symmetric adjustment of the equity capital charge for Solvency II with reference to the end of June 2020.

Today, the European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk free interest rate term structures (RFR) with reference to the end of June 2020.RFR information has been calculated for the first time Using Refinitiv as the main market...

While there is growing acceptance of and appetite for innovation in financial services, it is essential that innovation always benefits consumers.This was one of the key messages that Gabriel Bernardino, Chair of the European Insurance and Occupational Pensions Authority (EIOPA) gave to...