On 14 June 2013, the European Insurance and Occupational Pensions Authority (EIOPA) published its findings on the Long-Term Guarantee Assessment (LTGA). EIOPA concluded that the final Long-Term Guarantee (LTG) package to be included in the Solvency II framework should fulfil the following principles:

  • Alignment with the Solvency II framework and the economic balance sheet concept
  • Full consistency and comparability so as to enhance the single market
  • Efficient linking of all three pillars (quantitative basis, qualitative basis and enhance reporting and disclosure)
  • Proportionality and simplicity
  • Adequate treatment of transitional issues

EIOPA has also issued the following notable publications in recent months:

The following consultations (all of which can be accessed here) have also been launched:

  • Possible EU-single Market for Personal Pension Products (consultation closes 16 August 2013)
  • Draft Report on Good Supervisory Practices Regarding Knowledge and Ability Requirements for Distributors of Insurance Products (consultation closes 23 September 2013)
  • Draft Report on Good Practices on Comparison Websites (consultation closes 23 September 2013)