EIOPA sets out its strategic priorities for the coming year

The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the coming year, under the overarching goal of building a safe and sustainable EU for citizens in times of transformation.

Activities take into account the ongoing effects of COVID-19, the market situation and political priorities, in particular supporting the digital and green recovery.

Under the twin objectives of ensuring consumer protection and safeguarding financial stability, EIOPA will pursue six strategic areas.

• Integrating sustainable finance considerations across all areas of work, including promotion of sustainability disclosures and a sustainable conduct of business framework and addressing protection gaps.
• Supporting the market and supervisory community through digital transformation, including the preparation of Regulatory and Implementing Technical Standards from the digital operational resilience act (DORA), and continuous implementation of the cyber underwriting strategy.
• Enhancing the quality and effectiveness of supervision, including the provision of training on Solvency II to national authorities in cooperation with DG REFORM, the definition of Union-wide strategic priorities.
• Ensuring technically sound prudential and conduct of business policy, including follow-up to the Solvency II review and the provision of technical advice on the scheduled review of the IORP II Directive.
• Identifying, assessing, monitoring and reporting on risks to the financial stability and conduct of business and promoting preventative policies and mitigating actions, including the provision of timely and accurate financial stability analyses and risk assessments.
• Providing effective recruitment, management and development of EIOPA’s human capital.

More information on EIOPA’s priorities can be found in theSingle Programming Document 2022-2024, adopted by the Board of Supervisors on 30 September 2021.

 Background

EIOPA is at the heart of insurance and pensions supervision in Europe. Through its work, EIOPA contributes to a sound, effective and consistent level of supervision in Europe, protecting insurance policyholders and beneficiaries, and pension scheme members.