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.