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
The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.
The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.
The European Banking Authority (EBA) published the final report on the guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures needed for institutions to return to compliance.
The Prudential Regulation Authority (PRA) issued the policy statement PS20/21, which contains final rules for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies.
The European Banking Authority (EBA) revised the guidelines on stress tests to be conducted by the national deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD).
The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.
The Hong Kong Monetary Authority (HKMA) issued a circular, for all authorized institutions, to confirm its support of an information note that sets out various options available in the loan market for replacing USD LIBOR with the Secured Overnight Financing Rate (SOFR).
The Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. The booklet covers information on timely identification and rehabilitation of problem banks and their advanced supervision, enforcement, and resolution when conditions warrant.