General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
December 21, 2017

EIOPA published its second annual report 2017 on Long-Term Guarantee (LTG) measures and measures on equity risk. This report analyzes the impact of measures on the financial position of all (re)insurance undertakings from the European Economic Area. The analysis included the impact of the extrapolation of risk-free interest rates and of the symmetric adjustment mechanism to the equity risk charge. The Solvency II Directive requires a review of the LTG measures and the measures on equity risk by January 01, 2021.

The annual report contains four main sections. The first section provides introductory information on the legal background of the review of the LTG measures and measures on equity risk as well as on the data used for this report, also concluding with a summary on the European insurance market. The second section captures the overall impact of the LTG measures and measures on equity risk on the financial position of the undertakings; the impact on policyholder protection; the impact on investments; the impact on consumer protection and availability of products; the impact on competition and level playing field in the EU insurance market; and the impact on financial stability. The third section of the report details the impact of each measure. The fourth section (thematic focus) is focused on the public disclosure on LTG measures and measures on equity risk. 

EIOPA also assessed stakeholder perception about the relevance, comprehensibility, completeness, and comparability of the information on the measures disclosed by (re)insurance undertakings. The outcome highlights the importance of the transparency on the use and impact of the measures as well as their preference for disclosure of additional information. EIOPA plans to submit an opinion on the assessment of the application of the LTG measures and the measures on equity risk to EC in 2020, which will be based on the annual reports submitted by then. EIOPA has submitted this second annual report to the European Parliament, the Council of the European Union, and the EC. 

 

Related Links

Keywords: Europe, Insurance, Solvency II, LTG, Equity Risk, Annual Report, EIOPA

Related Insights
News

EBA Single Rulebook Q&A: Third Update for February 2019

EBA published answers to two questions under the Single Rulebook question and answer (Q&A) updates for this week.

February 15, 2019 WebPage Regulatory News
News

FSB Report Examines Financial Stability Implications of Fintech

FSB published a report that assesses fintech-related market developments and their potential implications for financial stability.

February 14, 2019 WebPage Regulatory News
News

US Agencies Amend Regulatory Capital Rule to Allow Phase-In for CECL

US Agencies (FDIC, FED, and OCC) adopted the final rule to address changes to credit loss accounting under the U.S. generally accepted accounting principles; this includes banking organizations’ implementation of the current expected credit losses (CECL) methodology.

February 14, 2019 WebPage Regulatory News
News

FED Issues Correction in Historical Dataset in its 2019 Stress Tests

FED identified an error in the historical dataset used in its 2019 stress tests and issued a correction.

February 13, 2019 WebPage Regulatory News
News

OCC Consults on Company-Run Stress Test Requirements for Banks

OCC proposed amendments to its company-run stress testing requirements for national banks and Federal savings associations, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

February 12, 2019 WebPage Regulatory News
News

CFTC Extends Comment Periods for Trade Execution Requirement Proposals

CFTC announced that it is extending comment period for the proposed amendments related to the regulations on swap execution facilities (SEF) and trade execution requirement.

February 12, 2019 WebPage Regulatory News
News

BCBS Updates Instructions for Basel III Monitoring Exercise

BCBS updated instructions for Basel III monitoring for the collection of December 2018 data from the participating banks.

February 12, 2019 WebPage Regulatory News
News

OCC Proposes to Renew Information Collection Under Stress Test Rule

OCC is proposing to renew its information collection titled “Annual Stress Test Rule” (OMB Control No: 1557-0311). Comments must be received on or before March 13, 2019.

February 11, 2019 WebPage Regulatory News
News

OSFI Consults on NSFR Disclosure Requirements for D-SIBs

OSFI proposed the draft guideline on the net stable funding ratio (NSFR) disclosure requirements for domestic systemically important banks (D-SIBs).

February 11, 2019 WebPage Regulatory News
News

EC Amends Its Regulation to Clarify Impairment Requirements for IFRS 9

EC published the EU Regulation 2019/237 that amends Regulation (EC) No 1126/2008 adopting certain international accounting standards, in accordance with Regulation (EC) No 1606/2002 regarding International Accounting Standard (IAS) 28 on Investments in Associates and Joint Ventures.

February 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2601