EIOPA Publishes Second Annual European Insurance Overview
EIOPA published the second annual report on European Insurance Overview. The report is based on annually reported Solvency II information, thus ensuring that the data have a high coverage in all countries and are reported consistently across the European Economic Area. The European Insurance Overview report is an extension of the statistical services of EIOPA, with the aim to provide an easy-to-use and accessible overview of the insurance sector in EU.
The data show that, for the vast majority of countries (30 out of 31), a median Solvency capital requirement ratio of over 200% is observed and for all a median minimum capital requirement above 200%. Market risk is the most dominant risk module accounting for between 25% and 80% of Basic Solvency capital requirement for all countries. For the majority (26 out of 31) of countries, tier-1-unrestricted capital accounts for 90% or more of own funds.
The report is objective, factual, and data driven and does not contain analysis or policy messages. It provides highly relevant and easily accessible data at the European level. While the topics and indicators covered are intended to be relatively stable over time, the report will be adapted to respond to changes in micro-prudential and supervisory priorities. It will, therefore, support the supervisory community and industry with highly relevant and easily accessible data at the European level
Related Links
Keywords: Europe, EU, Insurance, Solvency II, European Insurance Overview, Statistics, EIOPA
Featured Experts
Adam Koursaris
Asset and liability management expert; capable modeler; risk and capital specialist
Cassandra Hannibal
IFRS 17 subject matter expert; actuary; risk management and capital projection specialist
Jerome Ogrodzki
Insurance asset and liabilities modeling specialist; stochastic modeling expert
Previous Article
DNB Announces Amendment to Treatment of NHG-Backed Mortgage LoansRelated Articles
HM Treasury Publishes Policy Statement Amending Benchmarks Regulation
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
PRA Consults on Implementation of Certain Provisions of CRD5 and CRR2
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies Finalize Rule to Reduce Impact of Large Bank Failures
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies Finalize Rule on Net Stable Funding Ratio Requirements
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.
FSB Sets Out Effective Practices for Cyber Incident Recovery
FSB finalized the toolkit of effective practices to assist financial institutions in their cyber incident response and recovery activities.
ECB Publishes Eleventh Issue of the Macroprudential Bulletin
ECB published eleventh issue of the Macroprudential Bulletin, which provides insight into the ongoing work of ECB in the field of macro-prudential policy.
HM Treasury Seeks Views on Review of Solvency II Regime for Insurers
HM Treasury issued a call for evidence seeking views to reform the prudential regulatory regime—also known as Solvency II—of the insurance sector in UK.
ESRB Responds to EC Consultation on Review of Solvency II
ESRB responded to the EC consultation on review of Solvency II regime.
HM Treasury Consults on Phase II of Future Regulatory Framework Review
HM Treasury launched a consultation on Phase II of the Future Regulatory Framework Review, with the comment period ending on January 19, 2021.
EC Publishes Work Program for 2021
EC adopted the work program for 2021.
