The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published a report on the implementation of the current insurance Directives with regard to the eligible elements to meet the solvency margin. This report sets out responses made to a questionnaire to identify common ground between Member States under the existing Solvency I Directives and to reveal specific situations and differences in interpretations of the Directives with regard to the eligibility of capital. Generally, the responses to the questionnaire showed that:

  • Not all Member States have implemented the options that are provided in the Solvency I Directives.
  • Although Member States generally apply the same treatment at both solo and group level, there appears to be some room for divergence at group level.
  • Some ambiguities were noted in relation to certain limits applied to the eligibility of certain elements.
  • Some differences between the national accounting principles appear to cause differences in what is actually included in the available solvency margin.

View CEIOPS report on the implementation of the current insurance Directives with regard to the eligible elements to meet the solvency margin, 13 August 2007