On 18 May 2018, EIOPA issued an Opinion on the solvency position of insurance and reinsurance undertakings in light of the pending withdrawal of the UK from the European Union. The Opinion calls on national supervisors to ensure that all risks to the solvency position of insurers arising from the fact that the UK will become a third country for the purposes of applying the Solvency II framework are properly addressed. In particular, the Opinion emphasises the importance of ensuring that insurers identify and report risks arising from Brexit and include them in their Own Risk and Solvency Assessments.