Report on EIOPA's Colleges of Supervisors Activities in 2022

The European Insurance and Occupational Pensions Authority (EIOPA) published today its report on the activities of Colleges of Supervisors in 2022. The report highlights the importance of efficient and effective coordinated supervision of cross-border insurance groups in the EU and provides an overview of the main developments and the key topics discussed in the colleges.

The College activities during 2022 focused on the impact of the current macro-economic environment, including the sharp rise in inflation and interest rates, as well as the impact of the Russian war in Ukraine on the Groups, their profitability and financial and solvency position, as well as other risks specific to the Groups. The impact on the individual Groups varies, given the differences and specifics of their business models.

Further attention has been put on Environmental, Social and corporate Governance (ESG) and climate change scenarios, impact from banking side in case of financial conglomerates, impact of Insurance Capital Standards (ICS) implementation in case of Internationally Active Insurance Groups, conduct of business topics, and other relevant topics such asIFRS 17 and use of reinsurance.