EIOPA will assess the impact of the Solvency II Long-Term Guarantees "LTG" package as requested by the Trilogue parties (the European Parliament, the Council of the EU and the European Commission).

The Long-Term Guarantee Assessment "LTGA" is being completed at the request of the Trilogue parties in the context of the negotiations of the Omnibus II Directive. The goal of the LTGA is to assess the effects that the implementation of the various elements of the package may have on policyholders and beneficiaries, insurance and reinsurance undertakings, supervisory authorities and the financial system as a whole.

The launch of the LTGA exercise is scheduled for 28 January 2013 and it will be conducted in cooperation with national supervisory authorities. It is envisaged that EIOPA will publish its report on the LTGA in June 2013.