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RSSToday, the European Insurance and Occupational Pensions Authority (EIOPA) has published an Opinion on the supervision of remuneration principles in the insurance and reinsurance sector.The Opinion addresses how to ensure consistent practices in the application of the remuneration principles...
The European Insurance and Occupational Pensions Authority (EIOPA) is currently seeking applications for its two Stakeholder Groups, the Insurance and Reinsurance Stakeholder Group and the Occupational Pensions Stakeholder Group.In light of the challenges and difficulties caused by the Covid-19...
Unit-linked products can offer high returns but also pose risks for consumers during periods of poor market returns2018 performance was the lowest for the last 5 yearsCosts remain high. Profit participation products continue having lower costs than unit-linked productsOngoing costs continue being...
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 March 2020.Legal BackgroundThe symmetric adjustment is regulated mainly in Article 106 of...
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 March 2020.RFR information has been calculated on the basis of the updated representative portfolios...
I. Introduction1.The outbreak of COVID-19 has significantly impacted the activities of EIOPA, NCAs and financial institutions, ranging from the need to assess implications to the market and propose immediate regulatory measures relevant for the current situation, to the deployment of business...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) has published a statement on dividends distribution and variable remuneration policies in the context of COVID-19.Taking due account of the current level of uncertainty on the depth, magnitude and duration of the impacts of...
In view of the special circumstances generated by the COVID-19 pandemic, the Romanian Supervisory Authority and the European Occupational Pensions Authority have decided to postpone the start of the Balance Sheet Review of the Romanian insurance sector. The exercise was originally expected to be...
Access to and continuity of insurance services should be considered essential in the context of the outbreak.Insurers and intermediaries are asked to:Provide clear and timely information to consumers on contractual rights;Treat consumers fairly and be explicit in all communications;Inform...
The Danish Financial Supervisory Authority, Finanstilsynet, has ordered Gefion Insurance A/S to cease writing business with immediate effect. Finanstilsynet has also published a number of questions and answers which may be useful to Gefion’s policyholders. This information is also available in...
The European Insurance and Occupational Pensions Authority (EIOPA) has created two model Pension Benefit Statements to provide practical guidance on how to implement the annual information document that IORPs are required to send to their members following the implementation of the IORP II...
As a precautionary measure in the context of the COVID-19 pandemic, the EIOPA offices are closed until further notice. EIOPA remains fully operational as staff members are teleworking and can be reached via email and telephone.For general inquiries please call +49 (0) 69 95 1119-20 or send an...
Recommendations provide for flexibility regarding upcoming supervisory reporting deadlinesRecommendations will enable insurers to concentrate efforts on monitoring and assessing impact of Coronavirus/COVID-19 and maintaining business continuityRecommendations are addressed to national competent...
BackgroundThe European Insurance and Occupational Pensions Authority (EIOPA), in close communication and cooperation with the other European Supervisory Authorities and the European Systemic Risk Board, has been monitoring the Coronavirus/COVID-19 situation very closely as the outbreak continues...
From 16 March, staff from the European Insurance and Occupational Pensions Authority will be teleworking.EIOPA remains fully operational and staff members remain contactable via email and telephone.
Can you represent the interests of insurance or pension stakeholders in Europe?Is your work (e.g. as an academic, or consumer/industry/employee/SME representative) relevant to the future of the insurance and pensions sectors?Have your voice heard and become a member of EIOPA’s stakeholder groups...
Today the European Insurance and Occupational Pensions Authority (EIOPA) has published a Supervisory Statement on the impact of the ultra-low/negative interest rate environment.This environment is significantly impacting the insurance sector in the EU, in terms of asset allocation, reinvestment...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) launched the public consultation on implementing technical standards for supervisory reporting and cooperation as mandated by the Pan-European Personal Pension Product (PEPP) Regulation.The proposals specify the annual...
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The Financial Supervisory Authority of Romania (ASF) and the European Insurance and Occupational Pensions Authority (EIOPA) announce their intention to launch an independent assessment of the Romanian insurance sector through a balance sheet review.A similar exercise was performed on the Romanian...