Skip to main content
European Insurance and Occupational Pensions Authority
General publications

Supervisory Statement on the supervision of reinsurance concluded with third-country (re)insurance undertakings

Details

Publication date
4 April 2024

Description

Reinsurance is an important tool for capital and risk management used also for risks diversification, access to additional underwriting capacity for portfolio expansion, addressing protection gaps and increasing financial stability. It plays a crucial role in the insurance industry's ability to operate and provide coverage to individuals and businesses. As such, cross-border reinsurance could offer numerous advantages to insurance undertakings.

However, it is important to assess the actual risk mitigation taking place. With this in mind, the objective of this supervisory statement is to highlight the risks stemming from the use of reinsurance provided by reinsurers operating under regulatory regimes not recognized as equivalent to Solvency II. Some parts of the statement, where relevant and explicitly stated, apply also to reinsurance arrangements with reinsurers from equivalent third countries.

Files

4 APRIL 2024
EIOPA-BoS-24-075_Supervisory Statement on the supervision of third-country reinsurance.pdf
4 APRIL 2024
EIOPA-BoS-24-074_Impact assessment - Supervisory statement on third-country reinsurance.pdf
4 APRIL 2024
EIOPA-BoS-24-077_Feedback statement - Supervisory statement on third-country reinsurance.pdf
4 APRIL 2024
EIOPA-BoS-24-076_Resolution of comments - Supervisory statement on third-country reinsurance.xlsx