European Insurance and Occupational Pensions Authority Updates
EIOPA: Report on Costs and Past Performance of Retail Investment Products in the EU
The European Insurance and Occupational Pensions Authority (EIOPA) has published its report on the costs and past performance of retail investment products in the EU, covering the period from 2020 to 2024. Based on a broad sample of insurance-based investment products and personal pension products across the EEA, EIOPA conclude that EU consumers continue to favour low to medium risk products, with bancassurance remaining the dominant distribution channel.
EIOPA: Technical Specification for Small and Non-Complex Insurance Undertakings and Groups
EIOPA has issued a press release publishing the release of technical specifications to support the implementation of the new proportionality framework for small and non-complex insurance Updates
EIOPA: Report on Costs and Past Performance of Retail Investment Products in the EU
The European Insurance and Occupational Pensions Authority (EIOPA) has published its report on the costs and past performance of retail investment products in the EU, covering the period from 2020 to 2024. Based on a broad sample of insurance-based investment products and personal pension products across the EEA, EIOPA conclude that EU consumers continue to favour low to medium risk products, with bancassurance remaining the dominant distribution channel.
EIOPA: Technical Specification for Small and Non-Complex Insurance Undertakings and Groups
EIOPA has issued a press release publishing the release of technical specifications to support the implementation of the new proportionality framework for small and non-complex insurance undertakings and groups under the revised Solvency II Directive. Overall EIOPA emphasize the need for continued focus on product governance, cost transparency and value for money to ensure consistent consumer outcomes across the EU.
EIOPA: Extension of Chairperson
EIOPA has published a press release announcing that the Council of the European Union (EU) has extended the mandate of Petra Hielkema as Chairperson of EIOPA for a second five year term, beginning on 1 September 2026.
EIOPA: Consultation on the Treatment of Proportional Reinsurance Treaties
EIOPA has launched (PDF, 344KB) a consultation on the prudential treatment of certain proportional reinsurance arrangements that may weaken the link between solvency capital relief and the actual transfer of risk. EIOPA proposes additional guidance, to be issued as an Annex to EIOPA’s Opinion on risk mitigation techniques, to promote consistent supervisory assessments across the EU.
EIOPA: Consultation on the proposed shortening of Guidelines to streamline the resolved Solvency II Framework
EIOPA has launched a consultation (PDF, 1.6MB) on proposals to shorten 13 sets of Solvency II Guidelines. The consultation covers Guidelines spanning both Pillar I requirements and key Pillar II areas, including governance arrangements and the Own Risk and Solvency Assessment (ORSA). EIOPA aim to meaningfully reduce the length of existing Guidelines, targeting a reduction of at least 25% where feasible.
EIOPA: Market and Credit Risk Study
EIOPA has published (PDF, 2.8MB) results of its comparative study on the modelling of market and credit risk within internal models based on year-end 2024 data. The study focuses primarily on euro denominated instruments, with additional analysis of selected assets denominated in British pounds (GBP) and US dollars (USD), as well as the related foreign exchange indices. EIOPA detail the results indicate moderate to significant dispersion in modelling outcomes for certain asset classes, driven in part by differences in business models and modelling approaches.
EIOPA: Revised Guidelines on the Systematic of Information within Colleges of Supervisors
EIOPA has published (PDF, 549KB) its final report on revised guidelines on the systematic exchange of information within Colleges of Supervisors, aimed at strengthening supervisory cooperation for cross‑border insurance groups across the European Economic Area (EEA). EIOPA emphasise that the revised Guidelines do not introduce any new reporting requirements but make better use of information already available to supervisors and complement existing guidance on the operational functioning of colleges.
EIOPA: Draft Technical Standards on the Functioning of Resolution Colleges and on Reporting Requirements for Resolution Plans under IRRD
EIOPA has published two draft technical standards submitted to the European Commission (EC) to support the implementation of the Insurance Recovery and Resolution Directive (IRRD), which will apply from 2027:
The first (PDF, 666KB) final report sets out Regulatory Technical Standards (RTS) on the establishment and functioning of resolution colleges, defining how authorities will coordinate the resolution of cross border insurance groups; and
- The second (PDF, 647KB) final report comprises Implementing Technical Standards (ITS) specifying harmonised procedures, forms and templates for the information insurers must submit to resolution authorities for resolution planning.
EIOPA: Co-ordinated Mystery Shopping Exercise Across EU Member States
EIOPA has published a press release announcing that its Board of Supervisors has agreed to launch a second EU-wide mystery shopping exercise in the Insurance Sector, focusing on the online sales of non-life insurance products. The exercise will be coordinated by EIOPA and carried out across ten Member States, using a common methodology developed with its national supervisory members. It is designed to assess consumers’ real experiences when purchasing non‑life insurance online and to identify potential risks and opportunities along the digital sales journey. The findings of the mystery shopping exercise are expected to be published in the first half of 2027.
