Featured Product

    EIOPA Issues Paper on Enhancing Macroprudential Framework for Insurers

    July 31, 2018

    EIOPA published a paper that identifies, classifies, and provides a preliminary assessment of the potential additional tools and measures to enhance the macro-prudential framework for insurers in EU. This is the third paper in a series on systemic risk and macro-prudential policy in the insurance sector.

    This third paper in the series builds on, and supplements, the previous ones by performing an initial assessment of additional potential tools or measures to be included in a macro-prudential framework designed for insurers. The aim of this exercise is to mitigate the sources of systemic risk and contribute to the achievement of the operational objectives. EIOPA conducted an analysis focusing on the four categories of tools: capital and reserving-based tools, liquidity-based tools, exposure-based tools, and preemptive planning. The paper describes the potential instruments or measures that have been identified for each category and offers preliminary analysis for each tool. It examines the way in which the tools in each category contribute to achieving one or more of the operational objectives identified in previous papers and offers preliminary conclusions. The paper focuses on whether a specific instrument should or should not be further considered. This is an important aspect in light of the future work in the context of the Solvency II review. The initial assessment should be understood as a first step of the process and not yet as a formal proposal. 

    The first paper in this series was published in 2017 and it identified and analyzed the sources of systemic risk in insurance. The second paper was published in March 2018 and it identified, classified, and provided a preliminary assessment of the already existing tools or measures in the Solvency II framework that could mitigate any of the previously identified systemic risk sources. Through this paper series, EIOPA intends to ensure that any further extension of the debate on systemic risk and macro-prudential policy to the insurance sector fully reflects the specific nature of the industry.


    Related Links

    Keywords: Europe, EU, Insurance, Systemic Risk, Macro-prudential Framework, Solvency II, EIOPA

    Featured Experts
    Related Articles
    News

    HKMA Announces Liquidity Measures in Response to COVID-19 Outbreak

    HKMA issued a circular on liquidity measures that HKMA has taken or plans to take in response to COVID-19 outbreak.

    April 03, 2020 WebPage Regulatory News
    News

    BaFin Lowers Countercyclical Capital Buffer Amid COVID-19 Outbreak

    BaFin published a general order to lower the countercyclical capital buffer (CCyB) from 0.25% to 0% as of April 01, 2020.

    April 03, 2020 WebPage Regulatory News
    News

    ESMA Updates Risk Assessment in Light of COVID-19

    ESMA updated its risk assessment to account for the impact of the COVID-19 pandemic.

    April 02, 2020 WebPage Regulatory News
    News

    FSB Outlines and Reprioritizes Its Work to Address COVID-19 Risks

    FSB published a statement that outlines its work toward addressing the financial stability risks posed by COVID-19, along with the reprioritization of its work program for 2020.

    April 02, 2020 WebPage Regulatory News
    News

    EIOPA Announces Measures to Address the Impact of COVID-19

    Due to the outbreak of COVID-19, EIOPA is re-prioritizing and alleviating the burden by extending the deadlines or delaying projects where input from national competent authorities and/or industry is foreseen.

    April 02, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Use of Payment Moratoria to Address Liquidity Issues

    EBA published detailed guidance on the treatment of legislative and non-legislative moratoria on loan repayments to be applied before June 30, 2020, in light of the COVID-19 crisis.

    April 02, 2020 WebPage Regulatory News
    News

    PRA Outlines Approach to Reporting and Disclosures Amid COVID-19

    PRA published a statement to outline its approach to regulatory reporting and Pillar 3 disclosures for UK banks, building societies, designated investment firms, and credit unions.

    April 02, 2020 WebPage Regulatory News
    News

    PRA Finalizes Certain Modeling Issues for Solvency II Internal Models

    PRA published a statement (PS9/20) that sets out the final policy on modeling of income-producing real estate loans and internal credit assessment for illiquid, unrated assets within the Solvency II internal models.

    April 02, 2020 WebPage Regulatory News
    News

    EIOPA Issues Statement on Mitigating Impact of COVID-19 Outbreak

    EIOPA issued a statement to insurers and intermediaries, urging them to take steps to mitigate the impact of COVID-19 on consumers.

    April 01, 2020 WebPage Regulatory News
    News

    APRA on Changes to Reporting Obligations for Banks Due to COVID-19

    APRA, in collaboration with the Reserve Bank of Australia (RBA) and the Australian Bureau of Statistics (ABS), published a letter outlining temporary changes in reporting obligations for authorized deposit-taking institutions and registered financial corporations, in response to COVID-19.

    April 01, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4936