Featured Product

    EIOPA Publishes Annual Report for 2018

    June 14, 2019

    EIOPA published its annual report for 2018. The report contains a comprehensive account of the EIOPA activities toward the implementation of its mandate and work program during 2018. This year, the work of EIOPA was focused on strengthening supervisory convergence, strengthening consumer protection, preserving financial stability, activities related to insurtech, and monitoring developments on Brexit.

    Through its 2018–19 supervisory convergence plan, EIOPA identified priorities and implemented actions to foster a common approach to supervision and address risks to the internal market.  EIOPA provided its expertise related to the review of Solvency II, where EIOPA provided advice to EC on the review of the Solvency Capital Requirement. EIOPA also updated its conduct of business strategy to reflect changes to the regulatory landscape and developed a framework for conduct risk assessment. Together, these will support national supervisors to identify and mitigate risk.

    In the area of financial stability, EIOPA carried out an insurance stress test, which included a natural catastrophe scenario as well as a questionnaire related to cyber insurance. EIOPA published key reports in 2018 related to cyber insurance, the causes and early identification of failure or near misses in insurance, the development of a macro-prudential framework for insurance, and the first annual insurance overview. As in previous years, EIOPA continued to monitor developments related to Brexit, publishing opinions addressed to national supervisors to ensure that businesses prepare accordingly and risks to consumers are minimized. Digitalization and sustainable finance were particular areas of focus, with EIOPA contributing to the fintech and sustainable finance action plans of EC. 

    Looking ahead, EIOPA will build on its work as a core pillar of the European supervisory framework. EIOPA remains ready for change and opportunities, notably those associated with the review of ESAs and the outcome of trilog discussions on the pan-European personal pension product (PEPP). EIOPA will also continue to closely monitor issues related to Brexit. In 2019, EIOPA remains committed to fulfilling its mandate to strengthen supervisory convergence in the insurance and pension sectors across Europe, for the benefit of the economy, businesses, and consumers.

     

    Related Links

    Keywords: Europe, EU, Insurance, Annual Report, Supervisory Convergence, SCR, Solvency II, Stress Testing, Insurtech, Brexit, PEPP, EC, EIOPA

    Featured Experts
    Related Articles
    News

    FED Revises Capital Planning and Stress Testing Requirements for Banks

    FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.

    January 19, 2021 WebPage Regulatory News
    News

    ECB Releases Results of Bank Lending Survey for Fourth Quarter of 2020

    ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.

    January 19, 2021 WebPage Regulatory News
    News

    ESAs Publish Reporting Templates for Financial Conglomerates

    ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.

    January 18, 2021 WebPage Regulatory News
    News

    EBA Publishes Report on Asset Encumbrance of Banks in EU

    EBA published the annual report on asset encumbrance of banks in EU.

    January 18, 2021 WebPage Regulatory News
    News

    MAS Revises Guidelines on Technology Risk Management

    MAS revised the guidelines that address technology and cyber risks of financial institutions, in an environment of growing use of cloud technologies, application programming interfaces, and rapid software development.

    January 18, 2021 WebPage Regulatory News
    News

    US Agencies Publish Updates for Call Reports, FFIEC 101, and FR Y-9C

    FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies.

    January 15, 2021 WebPage Regulatory News
    News

    EBA Proposes Guidelines for Establishing Intermediate Parent Entities

    EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.

    January 15, 2021 WebPage Regulatory News
    News

    EC Adopts Financial Reporting Changes Arising from Benchmark Reforms

    EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.

    January 14, 2021 WebPage Regulatory News
    News

    BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk

    BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.

    January 14, 2021 WebPage Regulatory News
    News

    HMT Updates List of Post-Brexit Equivalence Decisions in UK

    HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.

    January 14, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6462