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Directive 2009/138/EC – also known as Solvency II – sets out the prudential regulatory framework for the insurance sector in the EU. The framework aims to establish the single market for insurance services further, while strengthening policyholders' protection. On 22 September 2021, the European Commission tabled a proposal for a directive that would amend Solvency II in essentially three ways: i) lowering regulatory obligations on small and low-risk profile insurance companies, ii) taking into account ...

Insurance companies are important investors in EU capital markets. Most of their investments are in debt instruments, while equity investments can contribute to higher returns for policyholders and overall EU economic growth. This study analyses the treatment of equity investments by insurance companies in (proposed) EU legislation; it is considered that this legislation will have limited impact on equity investments. To enhance equity investment significantly drivers other than prudential ones would ...

Insurance companies are important investors in EU capital markets. Most of their investments are in debt instruments, while equity investments can contribute to higher returns for policyholders and overall EU economic growth. This study analyses the treatment of equity investments by insurance companies in (proposed) EU legislation; it is considered that this legislation will have limited impact on equity investments. To enhance equity investment significantly drivers other than prudential ones would ...

The IA covers two Commission proposals representing the biggest amendment to date of the Solvency II framework, which came into force in the EU in 2016. Important parts of the framework laid down in delegated and implementing acts will be updated by the Commission at a later stage. This IA builds on a broad consultation of stakeholders, and on extensive advice from the European Insurance and Occupational Pensions Authority (EIOPA). In addition to various reports from EIOPA including a holistic IA ...

This briefing provides an insight into the latest developments on equivalence in EU banking and financial regulation both in terms of governance and decision making (Section 1) and in terms of regulatory and supervisory frameworks that governs the access of third countries firms to the internal market (Section 2). The briefing also gives an overview on the possible role of equivalence regimes in the context of Brexit (Section 3) together with Brexit-related supervisory and regulatory issues (Section ...

This briefing focuses on review of the implementing measures under Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II). Items for discussion include amendments to the Solvency II Delegated Regulation in the context of the Capital Markets Union and the review of the Solvency Capital Requirement standard formula, as well as the overall review of Solvency II.

The EU-US agreement on insurance and reinsurance was signed in September 2017. It aims at eliminating some key trade barriers in the sector, in particular collateral and local presence requirements. The agreement also tackles the issue of supervisory authority and exchange of information. The European Parliament is due to vote on giving its consent to the Council for the conclusion of the agreement during its February II plenary session.

In autumn 2015, the European Commission proposed a regulation on securitisation, in the context of the Capital Markets Union initiative. The proposal followed a consultation with stakeholders and took into account initiatives at international (BCBS-IOSCO) and European levels (EBA). The proposal replaces existing rules relating to due diligence, risk retention, transparency and supervision with a uniform regime. It provides a framework to identify simple, transparent and standardised (STS) securitisations ...

Het Europees Systeem voor financieel toezicht (ESFS) is een meer-lagen systeem van micro- en macroprudentiële autoriteiten, waaronder het Europees Comité voor systeemrisico's (ESRB), de drie Europese toezichthoudende autoriteiten en de nationale toezichthouders. Het ESFS is erop gericht consistent en coherent financieel toezicht in de EU te waarborgen. Dit toezichtsysteem ondergaat veranderingen als gevolg van de invoering van de bankenunie en de terugtrekking van het Verenigd Koninkrijk uit de EU ...

De regulering van en het toezicht op financiële diensten in de EU heeft veel aandacht gekregen tijdens de wereldwijde financiële crisis. In de periode na de crisis heeft de EU haar beleid inzake financiële diensten grondig herzien om de stabiliteit van het financiële systeem en het vertrouwen erin te herstellen. De voorbije jaren werden meer dan 40 nieuwe maatregelen voorgesteld via initiatieven zoals de bankenunie en de kapitaalmarktenunie. De hervorming van de financiële sector duurt nog altijd ...