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In line with the DORA mandate, the ESAs’ joint report explores the potential for further centralisation regarding financial entities’ reporting of major ICT-related incidents to competent authorities.

In June 2023, Národná banka Slovenska (NBS) withdrew the authorisation of NOVIS Insurance Company and petitioned the relevant competent Slovak court to dissolve NOVIS and appoint a liquidator for the company. However, a liquidator has still not been appointed to this day.

The report explores four key areas: the role of digitalisation in shaping the insurance and pension sectors, the transformatory power of AI in insurance, consumers’ appetite for supplementary pensions in light of increasing pension gaps, and the real/perceived value for money of insurance and pensi

EIOPA issued today a recommendation to Bulgaria’s Financial Supervision Commission (FSC - Комисия за финансов надзор), urging the supervisor to review its supervisory processes regarding the assessment of (re)insurers’ solvency positions.

EIOPA publishes biannual shifted risk-free rates for duration calculation in financial stability reporting – end-December 2024

Monthly update of the symmetric adjustment of the equity capital charge for Solvency II – end-December 2024

EIOPA published technical information on the relevant risk-free interest rate term structures (RFR) with reference to the end of December 2024.

The ESAs today kicked off a joint recruitment process for Heads of Unit (AD9) in the Joint Oversight team that was set up to carry out the oversight of the Information and Communication Technology Critical Third-Party Providers (CTPPs) under the Digital Operational Resilience Act (DORA).

EIOPA announced today that it will withdraw two previously published Guidelines and amend an Opinion – all related, at least in part, to the use of information communication technology (ICT) by undertakings.

With this note, EIOPA provides an update of the current situation of FWU AG Group and its insurance subsidiaries FWU Life Insurance Lux S.A. (“FWU Luxembourg”) and FWU Life Insurance Austria AG (“FWU Austria”), including some considerations for policyholders.

EIOPA and ECB propose possible EU-level approach to reduce insurance protection gap for natural catastrophes, building on existing national and EU structures. Two-pillar solution includes pooling private risks to increase insurance coverage and strengthening EU public disaster risk management.

The European Supervisory Authorities published today a summary report with the key findings from the 2024 Dry Run exercise on reporting the registers of information under the Digital Operational Resilience Act (DORA).

EIOPA published today the results of its 2024 Insurance Stress Test in which it assessed European insurers’ ability to cope with the economic and financial fallout from a resurgence of geopolitical tensions. The exercise shows that insurers in the European Economic Area are overall well-capitalized.

EIOPA published today its December 2024 Financial Stability Report in which it assesses the risks and vulnerabilities facing European insurers and occupational pension funds in a challenging risk landscape marked by high uncertainties.

The European Supervisory Authorities today published joint Guidelines intended to facilitate consistency in the regulatory classification of crypto-assets under MiCAR. The Guidelines include a standardised test to promote a common approach to classification.

EIOPA published updated representative portfolios that will be used for calculation of the volatility adjustments (VA) to the relevant risk-free interest rate term structures for Solvency II.

The International Association of Insurance Supervisors (IAIS) elected Petra Hielkema, Chairperson of EIOPA as Vice Chair of the Executive Committee for a term of two years. As IAIS ExCo Vice Chair, Petra Hielkema will contribute to developing, and assisting in the implementation of principles.

The complexities related to the use of data and its potential deep societal impact, coupled with the specificities of the insurance sector, call for the creation of a multidisciplinary Consultative Expert Group on data use in insurance.

EIOPA has launched today the second series of consultations regarding its proposed report on biodiversity risk management, as well as on five legal instruments to reflect the changes expected to be introduced to the regulatory framework as part of the Solvency II review process.