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
Keywords: Europe, EU, Insurance, Solvency II, European Insurance Overview, Statistics, EIOPA
Insurance product strategist; insurance domain expert; extensive experience developing risk assessment frameworks for insurers
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