On 18 July 2016, Insurance Europe published comments on EIOPA's consultation on potential changes to the methodology for calculating the Ultimate Forward Rate (UFR) for Solvency II purposes.  These highlighted that an impact analysis should be undertaken before any methodology or implementation planning (which should be a part of a wider Solvency II review) is finalised.  Insurance Europe believes that the UFR should remain at its current level until the review of the Solvency II standard formula is complete (as changing the UFR now could cause unintended adverse consequences for policyholders and the wider European economy).