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In the current macro-financial environment, one of the major concerns for the insurance market is the exceptionally ultra-low/negative level of interest rates.In addition, the Covid-19 outbreak has severely affected the macroeconomic and market conditions worldwide, with the launch of support...

The European Supervisory Authorities (ESAs) welcome the European Commission’s consultation on a Renewed Sustainable Finance Strategy as part of its European Green Deal. The ESAs support the Commission’s ambition to strengthen the European policy framework to enhance the resilience of the financial...

EIOPA’s response to the European Commission's consultation on the renewed sustainable finance strategy

Following the statement issued on 1 April 2020 on mitigating the impact of the COVID-19 situation on consumers, and taking into account different measures taken by a number of insurance manufacturers, EIOPA considers it important to further clarify its expectations on the application of Product...

EIOPA's response to the European Commission’s Digital Finance Strategy consultation

The main tasks of EIOPA are to enhance supervisory convergence, strengthen consumer protection and preserve financial stability. Through its oversight function, underpinned by the Authority’s founding regulation, EIOPA supports national supervisory authorities in the task of delivering high...

A key area of work in 2019 focused on proposing amendments to Solvency II in the context of the 2020 Review of Solvency II as a result of the identification of inconsistencies in the implementation of some areas of Solvency II. This knowledge lead in some cases to proposals to amend the...

The first Decision on EIOPA's regular information requests towards NCAs regarding IORPs was adopted in April 2018. Its business requirements were mainly based on Solvency II 2.2.0 and the taxonomy was partially implemented in line with Solvency II taxonomy 2.3.0.On 2 June, EIOPA BoS approved...

Throughout the course of 2019, EIOPA continued to play an essential role in the supervision of insurance and pensions in Europe, working closely with national supervisory authorities, European institutions and other stakeholders to fulfil its strategic objectives set out in its annual work...

EIOPA contribution to the public consultation on the revision of the nonfinancial reporting directive

Dear Vice-President Dombrovskis,The European Supervisory Authorities (ESAs) welcome the European Commission’s consultation on the revision of the Non-Financial Reporting Directive (NFRD). The Commission’s consultation document addresses a number of important aspects of the future of the NFRD, and...

EMIR RTS on various amendments to the bilateral margin requirements in view of the international framework

This consumer guide provides information to consumers related to their insurance coverage during the COVID-19/Corona virus outbreak.The guide is currently available in below language versions.

1. The European Insurance and Occupational Pensions Authority (EIOPA) has been closely monitoring the coronavirus/COVID-19 developments in relation to the occupational pensions sector. As long-term investors Institutions for Occupational Retirement Provision (IORPs) can play a stabilising role in...

This Opinion addresses how to ensure consistent practices in the application of the remuneration principles included in Solvency II.While the Solvency II framework provides for provisions of remuneration for sound and prudent management, the remuneration principles defined in the Delegated...

Cost and past performance 2020 report

Solvency 2.4.0 Taxonomy

EIOPA considers that it is essential to ensure the access to and continuity of insurance services, safeguarding the ability of the insurance sector to continue to perform its role as risk transfer mechanism from citizens and businesses and its capacity to mobilize savings and invest them in the...

EIOPA recognises the unprecedented situation which has arisen as a result of the Coronavirus/COVID-19 outbreak and is closely monitoring the situation as it continues to cause disruption to households and businesses across Europe.Notably, EIOPA has published:A statement on actions to mitigate the...