EIOPA publishes second set of Solvency II guidelines and draft ITS
On 5 July 2015, EIOPA published a second set of draft implementing technical standards ("ITS"), comprising nine ITS papers and guidelines required under Solvency II, comprising eight guideline papers.
To view a link to the outcome of the public consultation on Set 2 of the Solvency II ITS and Guidelines, please click here.
To view a link to the outcome of the public consultation on the proposal for ITS on the procedures and templates for the submission of information to the group supervisor as well as the exchange of information between supervisory authorities, please click here.
EIOPA monthly Solvency II updates
On 7 July 2015, EIOPA published its monthly technical information on relevant risk free interest rate term structures to be applied by (re)insurance undertakings in the calculation of their technical provisions and on symmetric adjustment of the equity capital charge.
To view a link to the Solvency II Guidelines, please click here.
The Director of Insurance Supervision addressed the DMA Conference on 14 May 2015
The Director of Insurance Supervision outlined the new regulatory initiatives at the DMA conference on 14 May 2015. The discussion included the following:
- the introduction of a new capital standard across the EU with the introduction of Solvency II;
- a need for fundamental change in the behaviour of financial services providers towards consumers;
- managing conduct risk;
- the need to proactively align strategies with good consumer outcomes, and sustainable profit;
- the effects of the continuing low interest rate environment;
- international regulatory developments; and
- a move towards a Global Capital standard.
To view the speech by the Director, please click here.
EIOPA launches selection procedure for its Stakeholder Group members
EIOPA launched the Call for Expression of Interest regarding the setting up of certain EIOPA Stakeholder Groups on 7 September 2015.
To view a link to the press release, please click here.