Events listed in [EIOPA] European Insurance and Occupational Pensions Authority
Insurance
consultation
EIOPA consults on its methodology for setting value-for-money benchmarks
ID 26323
EIOPA has initiated a public consultation on its proposed methodology for establishing value-for-money benchmarks for unit-linked and hybrid insurance products. This effort is part of EIOPA’s ongoing work to provide supervisors with risk-based tools to identify products that may not offer fair value for money in the market. The consultation outlines a three-step approach: 1. Product Clustering: EIOPA suggests categorizing unit-linked and hybrid insurance ...
Insurance
consultation
EIOPA consults on the prudential treatment of sustainability risks
ID 26244
EIOPA has initiated a consultation on the prudential treatment of sustainability risks, marking the second phase in its approach under the Solvency II Directive. This directive mandates EIOPA to assess whether a dedicated prudential treatment for assets or activities associated substantially with environmental or social objectives is justified. The consultation paper follows a risk- and evidence-based approach, assessing the potential for prudential treatment of ...
Insurance
consultation
EIOPA seeks feedback on its proposed approach to tackle greenwashing in the ...
ID 26202
EIOPA consults on its draft Opinion on sustainability claims and greenwashing, outlining four principles to guide providers in making accurate and substantiated sustainability claims. EIOPA is taking steps to combat greenwashing in the insurance and pensions sectors. With the increasing demand for sustainable investments, providers have expanded their offerings, leading to a rise in potential instances of misleading sustainability claims, known as greenwashing. 1. ...
Insurance
report / study
EIOPA assesses the progress of supervision in IORP’s Prudent Person Rule compliance
ID 26162
EIOPA has released a follow-up report on the application of the Prudent Person Rule for IORPs in accordance with the IORP II Directive. The Prudent Person Rule requires IORPs to invest in the best interests of their members and beneficiaries while adhering to specific investment rules. The 2019 peer review identified 27 recommendations across seven areas for 28 NCAs. The follow-up report reveals that ...
EIOPA updates representative portfolios to calculate volatility adjustments to the ...
ID 26101
EIOPA published the updated Technical Documentation of the methodology to derive EIOPA’s risk-free interest rate term structures and updated representative portfolios that will be used for calculation of the volatility adjustments to the relevant risk-free interest rate term structures for Solvency II. These updated representative portfolios are included in an updated version of the RFR Technical Documentation, which also contains some errata to the ...
Insurance
report / study
EIOPA unveils its digital strategy for the next three years
ID 25318
EIOPA has unveiled its digital strategy for the next three years, which is a part of its 2023-2026 overarching strategy (eventid=23305). This digital strategy outlines the organization’s approach to digital transformation in the insurance and pensions sectors, NCAs, and EIOPA itself. EIOPA aims to promote consumer protection and financial stability by ensuring that innovation is aligned with the best interests of consumers, taking into ...
Insurance
consultation
EIOPA consults on the supervision of captive (re)insurers with a focus on ...
ID 25256
EIOPA has initiated a public consultation regarding the supervision of captive (re)insurance undertakings, with a particular focus on intra-group transactions, the prudent person principle, and governance. Captive insurers are unique entities that provide coverage exclusively to the group to which they belong. The consultation’s primary goal is to establish a risk-based and proportionate framework for supervising these insurers and to harmonize supervisory expectations ...
Insurance
report / study
EIOPA sets out its strategic priorities for 2024
ID 25252
EIOPA has revised its strategic priorities for the period from 2024 to 2026. In this timeframe, EIOPA will focus on addressing the challenges, risks, and opportunities in the insurance and pensions sectors. They address critical areas, including sustainability, digital transformation, supervisory effectiveness, and risk management, while also emphasizing the importance of good governance and organizational efficiency. EIOPA will work to incorporate sustainable finance conside ...
Insurance
report / study
EIOPA takes stock of inflation’s impact on insurers and assesses potential future ...
ID 25229
EIOPA published a report examining the impact of high inflation on the insurance industry in Europe. This report analyzes the effects of both higher-than-expected inflation and increased interest rates on insurers in the region, both historically and looking ahead to assess potential future risks and vulnerabilities. The transition from a prolonged period of low inflation and ultra-low interest rates to a new macroeconomic environment ...
Capital Markets
procedure
Updated technical RFR documentation applicable as of 1 January 2024
ID 25183
EIOPA published the updated Technical Documentation of the methodology to derive EIOPA’s risk-free interest rate term structures. This documentation is set to take effect on 1 January 2024, with the first calculation under the new rules scheduled for the end of January 2024. Until the close of 2023, the existing technical documentation will continue to apply. The RFR term structures are essential for determining ...