On 3 March 2016, EIOPA published a speech delivered by its Chairman on Solvency II implementation and the challenges associated with it.  Key points highlighted include that Solvency II seeks supervisory convergence and has three core aims. These are to (a) ensure application of regulation, (b) guarantee a level playing field and prevent regulatory arbitrage and (c) safeguard equivalent levels of policyholder protection, across Europe.  The main challenges to implementation were identified as being (a) embedding and utilising the Own Risk and Solvency Assessment, (b) engaging with and understanding Solvency II public disclosure and (c) creation of a consumer-centric culture.  EIOPA will assess implementation of Solvency II annually, until 2020.