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This newsletter was sent to you by:
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donderdag 11 december 2014
donderdag 4 december 2014
EIOPA delivers a Common Application Package for Internal Models
The European Insurance and Occupational Pensions Authority (EIOPA)
published today the Common Application Package (CAP) for Internal Models.
The package aims to promote consistent supervisory practices for the
application processes related to internal models. It will help insurers to
understand the granularity of documentation and evidence that is required
for the formal application process. It can be used as well during the
pre-application, in order to prepare for a future application.
Gabriel Bernardino, Chairman of EIOPA, said: "We developed the Common
Application Package for Internal Models in order to foster consistent
supervisory practices and ensure the level playing field in the internal
market for the ultimate benefit of the EU undertakings and consumers".
The package contains the Excel template and the Explanatory Note with
instructions on how to fill in the template.
The CAP follows up on EIOPA Opinion on the Use of a Common Application
Package for Internal Models issued in March 2014. According to this
Opinion, national supervisors should recommend undertakings to use the
package to organise the documentation needed to demonstrate compliance
with the requirements relevant to the use of internal models.
The package can be viewed on EIOPA's website (Link:
https://eiopa.europa.eu/publications/standards-and-more/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
published today the Common Application Package (CAP) for Internal Models.
The package aims to promote consistent supervisory practices for the
application processes related to internal models. It will help insurers to
understand the granularity of documentation and evidence that is required
for the formal application process. It can be used as well during the
pre-application, in order to prepare for a future application.
Gabriel Bernardino, Chairman of EIOPA, said: "We developed the Common
Application Package for Internal Models in order to foster consistent
supervisory practices and ensure the level playing field in the internal
market for the ultimate benefit of the EU undertakings and consumers".
The package contains the Excel template and the Explanatory Note with
instructions on how to fill in the template.
The CAP follows up on EIOPA Opinion on the Use of a Common Application
Package for Internal Models issued in March 2014. According to this
Opinion, national supervisors should recommend undertakings to use the
package to organise the documentation needed to demonstrate compliance
with the requirements relevant to the use of internal models.
The package can be viewed on EIOPA's website (Link:
https://eiopa.europa.eu/publications/standards-and-more/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
woensdag 3 december 2014
EIOPA published a fact finding report on pensions decumulation (pay-out) phase practices
The European Insurance and Occupational Pensions Authority (EIOPA)
published a fact finding report on the current practices of pension scheme
arrangements in the EEA regarding the decumulation (pay-out) phase.
The report outlines current rules, practices, approaches and options in EEA
countries available to members of institutions for occupational retirement
provision (IORPs) when entering or during the decumulation (pay-out)
phase. In addition, the report touches upon practices of non-IORP types of
pension arrangements.
Key findings:
(1) Lump sum payments are very popular
The fact finding exercise found that annuities and lump sum payments are
the most prevalent pay-out option for pensions.
Half of the jurisdictions covered by this exercise allow IORPs to let
members choose a pension product or provider when entering the
decumulation phase. However, very few IORPs offer professional advice on,
for example, annuities.
(2) Information, costs and charges
The type and level of mandatory and conditional information to be provided
to members of IORPs when entering the decumulation phase varies widely and
is mostly determined by the specificities of the particular workplace
pension regime.
Similarly, the types of costs and charges on pension payments, as well as
the regulation on cost and charges, like for example cost caps, differ
significantly among countries.
(3) Aged between 60 and 65, heading towards 67
Currently most jurisdictions envisage starting paying out pensions when
aged between 60 and 65, but a growing number of countries are changing
regulation towards a pension age of 67 or more.
Click here (Link:
https://eiopa.europa.eu/publications/reports/index.html )to read the
EIOPA's Fact Finding Report on Decumulation Phase Practices
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
published a fact finding report on the current practices of pension scheme
arrangements in the EEA regarding the decumulation (pay-out) phase.
The report outlines current rules, practices, approaches and options in EEA
countries available to members of institutions for occupational retirement
provision (IORPs) when entering or during the decumulation (pay-out)
phase. In addition, the report touches upon practices of non-IORP types of
pension arrangements.
Key findings:
(1) Lump sum payments are very popular
The fact finding exercise found that annuities and lump sum payments are
the most prevalent pay-out option for pensions.
Half of the jurisdictions covered by this exercise allow IORPs to let
members choose a pension product or provider when entering the
decumulation phase. However, very few IORPs offer professional advice on,
for example, annuities.
(2) Information, costs and charges
The type and level of mandatory and conditional information to be provided
to members of IORPs when entering the decumulation phase varies widely and
is mostly determined by the specificities of the particular workplace
pension regime.
Similarly, the types of costs and charges on pension payments, as well as
the regulation on cost and charges, like for example cost caps, differ
significantly among countries.
(3) Aged between 60 and 65, heading towards 67
Currently most jurisdictions envisage starting paying out pensions when
aged between 60 and 65, but a growing number of countries are changing
regulation towards a pension age of 67 or more.
Click here (Link:
https://eiopa.europa.eu/publications/reports/index.html )to read the
EIOPA's Fact Finding Report on Decumulation Phase Practices
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
EIOPA publishes its third Consumer Trends Report.
Click here (Link:
https://eiopa.europa.eu/press-room/press-releases/index.html )to read the
press release
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
https://eiopa.europa.eu/press-room/press-releases/index.html )to read the
press release
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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password on the login page of the EIOPA Restricted Area.
EIOPA publishes the outcome of the public consultation related to the first set of the draft Guidelines for Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA)
published today the Final Reports on the public consultation related to
the first set of the draft Guidelines for Solvency II.
These Guidelines are complementing the first set of Implementing Technical
Standards, in particular with respect to Pillar I. They cover different
Solvency II areas: own funds; the standard formula SCR; technical
provisions; group solvency; internal models; ORSA and governance;
supervisory review process; equivalence.
EIOPA intends to issue the Guidelines in all the official EU languages in
the first quarter of 2015. Afterwards the National Competent Authorities
(NCAs) will need to confirm to EIOPA within 2 months their compliance or
intention to comply with these Guidelines.
Click here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/2014-closed-consultations/june-2014/public-consultation-on-the-set-1-of-the-solvency-ii-guidelines/index.html
)to view the Final Reports containing the draft Guidelines as well as the
impact assessment and the resolution of comments.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
published today the Final Reports on the public consultation related to
the first set of the draft Guidelines for Solvency II.
These Guidelines are complementing the first set of Implementing Technical
Standards, in particular with respect to Pillar I. They cover different
Solvency II areas: own funds; the standard formula SCR; technical
provisions; group solvency; internal models; ORSA and governance;
supervisory review process; equivalence.
EIOPA intends to issue the Guidelines in all the official EU languages in
the first quarter of 2015. Afterwards the National Competent Authorities
(NCAs) will need to confirm to EIOPA within 2 months their compliance or
intention to comply with these Guidelines.
Click here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/2014-closed-consultations/june-2014/public-consultation-on-the-set-1-of-the-solvency-ii-guidelines/index.html
)to view the Final Reports containing the draft Guidelines as well as the
impact assessment and the resolution of comments.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
dinsdag 2 december 2014
EIOPA launches public consultation on the Solvency II Standards and Guidelines
The European Insurance and Occupational Pensions Authority (EIOPA) launched
today a public consultation on the second set of draft Implementing
Technical Standards (ITS) and Guidelines for Solvency II.
With this EIOPA enters the final regulatory phase of Solvency II.
Preparation of the Standards is required by the EU law with the aim to
define forms, templates and procedures for specific areas under Solvency
II. EIOPA Guidelines ensure common, uniform and consistent application of
the new regime. The Guidelines reflect EIOPA's prudential choice to
address in a harmonised manner fundamental objectives of Solvency II, such
as risk-based capital requirements, reporting and disclosure.
The set of ITS and Guidelines covers different areas from all the three
Solvency II pillars. In terms of the third pillar, the set contains the
reporting package, which since its first release in July 2012, has been
updated in accordance with the Omnibus II Directive and the Solvency II
Implementing Measures.
The public consultation will end on 2 March 2015. Please note that comments
submitted after the deadline or not submitted on the provided template
cannot be processed.
All the relevant documentation can be found here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
today a public consultation on the second set of draft Implementing
Technical Standards (ITS) and Guidelines for Solvency II.
With this EIOPA enters the final regulatory phase of Solvency II.
Preparation of the Standards is required by the EU law with the aim to
define forms, templates and procedures for specific areas under Solvency
II. EIOPA Guidelines ensure common, uniform and consistent application of
the new regime. The Guidelines reflect EIOPA's prudential choice to
address in a harmonised manner fundamental objectives of Solvency II, such
as risk-based capital requirements, reporting and disclosure.
The set of ITS and Guidelines covers different areas from all the three
Solvency II pillars. In terms of the third pillar, the set contains the
reporting package, which since its first release in July 2012, has been
updated in accordance with the Omnibus II Directive and the Solvency II
Implementing Measures.
The public consultation will end on 2 March 2015. Please note that comments
submitted after the deadline or not submitted on the provided template
cannot be processed.
All the relevant documentation can be found here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
maandag 1 december 2014
EIOPA issues sound principles for crisis prevention, management and resolution
The European Insurance and Occupational Pensions Authority (EIOPA) has
published today an Opinion on Sound Principles for Crisis Prevention,
Management and Resolution Preparedness of National Competent Authorities
(NCAs). The Opinion is a follow-up to a survey* that EIOPA carried out in
2013 in order to obtain a better understanding of the current approaches
and practices across the European Union.
EIOPA notes that NCAs have been or are currently introducing changes in
their Crisis Prevention, Management and Resolution Frameworks as a result
of the financial crisis and initiatives by the international institutions
(Financial Stability Board, International Association of Insurance
Supervisors). In order to ensure consistency and adequacy of those
changes, EIOPA developed 14 principles that NCAs are expected to take into
account.
The principles are related to specific powers, tools and institutional
features aimed to enhance crisis prevention, management and resolution
preparedness of NCAs. As such, the Opinion emphasises a range of issues
including the organisational setup and the emergency plans for crisis
prevention and management, the development of recovery and resolution
plans, the need to design early warning systems and to define triggers for
intervention, as well as to have adequate resolution powers and
communication strategies in place. In the document EIOPA also stresses the
need to cooperate and share information with other relevant authorities.
Click here (Link:
https://eiopa.europa.eu/publications/eiopa-opinions/index.html )to view
the Opinion on Sound Principles for Crisis Prevention, Management and
Resolution Preparedness of National Competent Authorities (NCAs)
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
published today an Opinion on Sound Principles for Crisis Prevention,
Management and Resolution Preparedness of National Competent Authorities
(NCAs). The Opinion is a follow-up to a survey* that EIOPA carried out in
2013 in order to obtain a better understanding of the current approaches
and practices across the European Union.
EIOPA notes that NCAs have been or are currently introducing changes in
their Crisis Prevention, Management and Resolution Frameworks as a result
of the financial crisis and initiatives by the international institutions
(Financial Stability Board, International Association of Insurance
Supervisors). In order to ensure consistency and adequacy of those
changes, EIOPA developed 14 principles that NCAs are expected to take into
account.
The principles are related to specific powers, tools and institutional
features aimed to enhance crisis prevention, management and resolution
preparedness of NCAs. As such, the Opinion emphasises a range of issues
including the organisational setup and the emergency plans for crisis
prevention and management, the development of recovery and resolution
plans, the need to design early warning systems and to define triggers for
intervention, as well as to have adequate resolution powers and
communication strategies in place. In the document EIOPA also stresses the
need to cooperate and share information with other relevant authorities.
Click here (Link:
https://eiopa.europa.eu/publications/eiopa-opinions/index.html )to view
the Opinion on Sound Principles for Crisis Prevention, Management and
Resolution Preparedness of National Competent Authorities (NCAs)
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
zondag 30 november 2014
EIOPA announces results of the EU-wide insurance stress test 2014
The European Insurance and Occupational Pensions Authority (EIOPA)
announced today the results of its EU-wide Insurance Stress Test. The
exercise aimed to test the overall resilience of the insurance sector and
to identify its major vulnerabilities.
Undertakings estimated a baseline scenario using the upcoming Solvency II
regime, without internal models, and on top of that tested a number of
severe macro-economic and insurance specific shocks, including a prolonged
period of low yields ("Japanese-like" scenario) and a sudden reverse
in interest rates ("Inverse" scenario).
The results of the baseline scenario indicated that the sector is in
general sufficiently capitalised in Solvency II terms. Nevertheless, 14%
of the companies representing 3% of total assets, had an SCR ratio below
100%.
The stress test results showed that the insurance sector is more vulnerable
to a "double hit" stress scenario that combines decreases in asset
values with a lower risk free rate. However, 56% of the companies would
have a sufficient level of capital under the most severe "double hit"
stress scenario. The major vulnerabilities as per the insurance specific
stresses were mass lapse, longevity and natural catastrophes.
According to the low yield module of the stress test, 24% of companies
would not meet their SCR under the "Japanese‑like" scenario, while
20% would not meet this threshold under the "Inverse" scenario. A
continuation of the current low yield conditions could see some insurers
having problems in fulfilling their promises to policyholders in 8-11
years' time.
As a follow up to the stress test EIOPA issued a set of Recommendations to
NSAs in order to address in a coordinated way the identified
vulnerabilities.
In the context of the preparation for Solvency II, NSAs are recommended to
engage in a rigorous assessment of the preparedness of insurance
undertakings, in particular regarding the situations where capital
increases and/or balance sheet management actions will be needed.
Regarding the main vulnerabilities identified in the stress test, NSAs are
recommended to engage with companies to ensure that they have a clear
understanding of their risk exposures and their vulnerability to given
stress scenarios and that they have the capacity to take recovery actions
if those vulnerabilities materialise.
Based on the results of the Low Yield module, in particular for
undertakings that operate considerable duration and/or internal rate of
return mismatches, NSAs are recommended to examine their asset/liabilities
management and risk management strategies and practices and ensure that
they properly assess the sustainability of the guaranteed rates offered.
Gabriel Bernardino, Chairman of EIOPA, said: "EIOPA's stress test 2014
was a truly preventive supervisory tool. It gave EU supervisors an updated
picture of the undertakings preparedness to comply with the upcoming
Solvency II capital requirements and by applying a set of rigorous and
severe stresses indicated to us the areas where undertakings are most
vulnerable. EIOPA's recommendations will ensure that the vulnerabilities
identified are addressed and that follow-up actions by NSAs will be taken
in a consistent way".
The documentation can be viewed on EIOPA's website (Link:
https://eiopa.europa.eu/activities/financial-stability/insurance-stress-test-2014/index.html
).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
announced today the results of its EU-wide Insurance Stress Test. The
exercise aimed to test the overall resilience of the insurance sector and
to identify its major vulnerabilities.
Undertakings estimated a baseline scenario using the upcoming Solvency II
regime, without internal models, and on top of that tested a number of
severe macro-economic and insurance specific shocks, including a prolonged
period of low yields ("Japanese-like" scenario) and a sudden reverse
in interest rates ("Inverse" scenario).
The results of the baseline scenario indicated that the sector is in
general sufficiently capitalised in Solvency II terms. Nevertheless, 14%
of the companies representing 3% of total assets, had an SCR ratio below
100%.
The stress test results showed that the insurance sector is more vulnerable
to a "double hit" stress scenario that combines decreases in asset
values with a lower risk free rate. However, 56% of the companies would
have a sufficient level of capital under the most severe "double hit"
stress scenario. The major vulnerabilities as per the insurance specific
stresses were mass lapse, longevity and natural catastrophes.
According to the low yield module of the stress test, 24% of companies
would not meet their SCR under the "Japanese‑like" scenario, while
20% would not meet this threshold under the "Inverse" scenario. A
continuation of the current low yield conditions could see some insurers
having problems in fulfilling their promises to policyholders in 8-11
years' time.
As a follow up to the stress test EIOPA issued a set of Recommendations to
NSAs in order to address in a coordinated way the identified
vulnerabilities.
In the context of the preparation for Solvency II, NSAs are recommended to
engage in a rigorous assessment of the preparedness of insurance
undertakings, in particular regarding the situations where capital
increases and/or balance sheet management actions will be needed.
Regarding the main vulnerabilities identified in the stress test, NSAs are
recommended to engage with companies to ensure that they have a clear
understanding of their risk exposures and their vulnerability to given
stress scenarios and that they have the capacity to take recovery actions
if those vulnerabilities materialise.
Based on the results of the Low Yield module, in particular for
undertakings that operate considerable duration and/or internal rate of
return mismatches, NSAs are recommended to examine their asset/liabilities
management and risk management strategies and practices and ensure that
they properly assess the sustainability of the guaranteed rates offered.
Gabriel Bernardino, Chairman of EIOPA, said: "EIOPA's stress test 2014
was a truly preventive supervisory tool. It gave EU supervisors an updated
picture of the undertakings preparedness to comply with the upcoming
Solvency II capital requirements and by applying a set of rigorous and
severe stresses indicated to us the areas where undertakings are most
vulnerable. EIOPA's recommendations will ensure that the vulnerabilities
identified are addressed and that follow-up actions by NSAs will be taken
in a consistent way".
The documentation can be viewed on EIOPA's website (Link:
https://eiopa.europa.eu/activities/financial-stability/insurance-stress-test-2014/index.html
).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
vrijdag 28 november 2014
The European Insurance and Occupational Pensions Authority (EIOPA) has published a Consultation paper on powers for bann
The European Commission asked EIOPA for its advice on completing new rules
on the intervention powers of national supervisors and EIOPA. This is
about powers and procedures for temporarily prohibiting or restricting the
marketing, distribution and sale of specific insurance-based investment
products. Bans should happen only if serious concerns exist regarding
investor protection, orderly functioning and integrity of financial
markets, or the stability of the whole or part of the financial system.
Consulting all stakeholders on this matter is the next step in preparing
the Commission. The consultation ends 27 February 2015.
Click here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html )to
read the Consultation paper
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on the intervention powers of national supervisors and EIOPA. This is
about powers and procedures for temporarily prohibiting or restricting the
marketing, distribution and sale of specific insurance-based investment
products. Bans should happen only if serious concerns exist regarding
investor protection, orderly functioning and integrity of financial
markets, or the stability of the whole or part of the financial system.
Consulting all stakeholders on this matter is the next step in preparing
the Commission. The consultation ends 27 February 2015.
Click here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html )to
read the Consultation paper
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donderdag 20 november 2014
Invitation for members of a Consultative Expert Group on KIDs for PRIIPS
The Joint Committee of the three European Supervisory Authorities (EBA,
EIOPA and ESMA) today launches a process for the selection of members of a
Consultative Expert Group (CEG). The CEG will be advising the Joint
Committee's Sub-group on Key Information Documents for Packaged Retail
and Insurance-based Investment Products (PRIIPs) and will be expected to
provide technical input to the PRIIPs Sub-Group in relation to its tasks,
at the request of the Sub-Group at all stages of the policy formulation
process.
Related Documents
Call for interest (Link:
https://eiopa.europa.eu/fileadmin/tx_dam/files/consultations/consultationpapers/JC_DP_2014_02_-_PRIIPS_Discussion_Paper/Call_for_interest_Expert_Group_PRIIPs.pdf
)
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EIOPA and ESMA) today launches a process for the selection of members of a
Consultative Expert Group (CEG). The CEG will be advising the Joint
Committee's Sub-group on Key Information Documents for Packaged Retail
and Insurance-based Investment Products (PRIIPs) and will be expected to
provide technical input to the PRIIPs Sub-Group in relation to its tasks,
at the request of the Sub-Group at all stages of the policy formulation
process.
Related Documents
Call for interest (Link:
https://eiopa.europa.eu/fileadmin/tx_dam/files/consultations/consultationpapers/JC_DP_2014_02_-_PRIIPS_Discussion_Paper/Call_for_interest_Expert_Group_PRIIPs.pdf
)
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dinsdag 18 november 2014
Speech by Gabriel Bernardino, Chairman of EIOPA, at the 9th European Pension Funds Congress in Frankfurt am Main
Gabriel Bernardino, Chairman of EIOPA, in his speech at the 9th European
Pension Funds Congress in Frankfurt am Main (Link:
https://eiopa.europa.eu/fileadmin/tx_dam/files/Press-Room/speeches/2014-11-18_European_Pension_Funds_Congress.pdf
): " To ensure that citizens will have a chance to maintain appropriate
standards of living in their retirement it is self-evident that we need a
comprehensive package of reforms."
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Pension Funds Congress in Frankfurt am Main (Link:
https://eiopa.europa.eu/fileadmin/tx_dam/files/Press-Room/speeches/2014-11-18_European_Pension_Funds_Congress.pdf
): " To ensure that citizens will have a chance to maintain appropriate
standards of living in their retirement it is self-evident that we need a
comprehensive package of reforms."
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maandag 17 november 2014
The Joint Committee of the three European Supervisory Authorities (EBA, ESMA and EIOPA - ESAs) published today a Discuss
The Joint Committee of the three European Supervisory Authorities (EBA,
ESMA and EIOPA - ESAs) published today a Discussion Paper on Key
Information Documents (KIDs) designed to help retail investors in the EU
better understand and compare packaged retail and insurance-based
investment products (PRIIPs) across the EU.
This newsletter was sent to you by:
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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
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password on the login page of the EIOPA Restricted Area.
ESMA and EIOPA - ESAs) published today a Discussion Paper on Key
Information Documents (KIDs) designed to help retail investors in the EU
better understand and compare packaged retail and insurance-based
investment products (PRIIPs) across the EU.
This newsletter was sent to you by:
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Phone: +49 69 951119-20
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zondag 2 november 2014
EIOPA consults on the calculation process for the Solvency II relevant risk free interest rate
The European Insurance and Occupational Pensions Authority (EIOPA) invites
external stakeholders to provide their feedback on the Technical Document
on the Relevant Risk Free Rate Term Structures. The Technical Document
describes the methodology, assumptions and identification of the data for
the calculation of the relevant risk free interest rate term structures,
which in turn are used for the calculation of technical provisions.
The Technical Document intends to ensure full transparency of the
calculation process. EIOPA has published it at the earliest possible stage
in order to provide a key input for the risk management and assessment of
the financial and solvency position of (re)insurance undertakings under
the impending Solvency II regime.
Many parameters of the risk free rates are already determined by EU
legislation. However, some alternatives remain and by the current paper
EIOPA would like to collect the views of stakeholders on the proposals it
suggests.
EIOPA believes that its proposals will be beneficial for policyholders as
they enhance the level playing field of the EU single insurance market,
thus, facilitating the valuation of undertakings and the work of
supervisors.
The consultation will end at 12.00 hrs CET on 21 November 2014.
Comments should be submitted using the dedicated Template for Comments via
email to Consultation_TD_RFR(at)eiopa.europa.eu (Link:
Consultation_TD_RFR@eiopa.europa.eu ). Please note that comments submitted
after the deadline or not submitted on the provided template cannot be
processed.
The consultation paper, the additional illustrative materials and the
Template for Comments can be viewed here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
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password on the login page of the EIOPA Restricted Area.
external stakeholders to provide their feedback on the Technical Document
on the Relevant Risk Free Rate Term Structures. The Technical Document
describes the methodology, assumptions and identification of the data for
the calculation of the relevant risk free interest rate term structures,
which in turn are used for the calculation of technical provisions.
The Technical Document intends to ensure full transparency of the
calculation process. EIOPA has published it at the earliest possible stage
in order to provide a key input for the risk management and assessment of
the financial and solvency position of (re)insurance undertakings under
the impending Solvency II regime.
Many parameters of the risk free rates are already determined by EU
legislation. However, some alternatives remain and by the current paper
EIOPA would like to collect the views of stakeholders on the proposals it
suggests.
EIOPA believes that its proposals will be beneficial for policyholders as
they enhance the level playing field of the EU single insurance market,
thus, facilitating the valuation of undertakings and the work of
supervisors.
The consultation will end at 12.00 hrs CET on 21 November 2014.
Comments should be submitted using the dedicated Template for Comments via
email to Consultation_TD_RFR(at)eiopa.europa.eu (Link:
Consultation_TD_RFR@eiopa.europa.eu ). Please note that comments submitted
after the deadline or not submitted on the provided template cannot be
processed.
The consultation paper, the additional illustrative materials and the
Template for Comments can be viewed here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
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password on the login page of the EIOPA Restricted Area.
vrijdag 31 oktober 2014
EIOPA publishes the outcome of the public consultation related to the Guidelines on the Operational Functioning of Colle
EIOPA published today the Final Report on the public consultation related
to the Solvency II Guidelines on the Operational Functioning of Colleges
of Supervisors.
These Guidelines specify responsibilities of members and participants
within supervisory colleges in order to implement the cooperation and
information-sharing between supervisors for cross-border groups in a
convergent manner. EIOPA intends to issue the Guidelines on the
Operational Functioning of Colleges of Supervisors in all the official EU
languages in the first quarter of 2015. They will become applicable on 1
January 2016.
The Final Report containing the impact assessment, the Resolution of
Comments and draft Guidelines can be viewed here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/2014-closed-consultations/april-2014/consultation-paper-on-the-guidelines-on-the-operational-functioning-of-colleges-of-supervisors/index.html
).
This newsletter was sent to you by:
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to the Solvency II Guidelines on the Operational Functioning of Colleges
of Supervisors.
These Guidelines specify responsibilities of members and participants
within supervisory colleges in order to implement the cooperation and
information-sharing between supervisors for cross-border groups in a
convergent manner. EIOPA intends to issue the Guidelines on the
Operational Functioning of Colleges of Supervisors in all the official EU
languages in the first quarter of 2015. They will become applicable on 1
January 2016.
The Final Report containing the impact assessment, the Resolution of
Comments and draft Guidelines can be viewed here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/2014-closed-consultations/april-2014/consultation-paper-on-the-guidelines-on-the-operational-functioning-of-colleges-of-supervisors/index.html
).
This newsletter was sent to you by:
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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
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EIOPA delivers Solvency II Implementing Technical Standards on supervisory approval processes
EIOPA has submitted today to the European Commission (EC) for endorsement
the first set of draft Solvency II Implementing Technical Standards (ITS).
The current ITS define the processes for approval of the Internal Models,
Matching Adjustment, Ancillary Own Funds, Undertaking-Specific Parameters
and Special Purpose Vehicles as well as the joint decision process on
Group Internal Models. The ITS are addressed both to undertakings and
national supervisors. Their purpose is to guarantee that (re)insurers
present all information that is necessary for supervisors to give a
legally certain and prudentially sound approval of key elements of
Solvency II.
The EC has to endorse the Implementing Technical Standards within 3 months.
Following endorsement, the ITS will be translated into all official EU
languages and will become legally binding.
In addition, as part of its transparency policy, EIOPA is publishing the
Final Report on the public consultation regarding this first Set of
Solvency II ITS, which includes an Impact Assessment, the resolution of
comments of stakeholders, and, in particular, the Opinion of EIOPA's
Insurance and Reinsurance Stakeholder Group.
All the documentation can be viewed on EIOPA's website (Link:
https://eiopa.europa.eu/publications/technical-standards/draft-implementing-technical-standards-on-the-supervisory-approval-processes-for-solvency-ii/index.html
).
This newsletter was sent to you by:
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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
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password on the login page of the EIOPA Restricted Area.
the first set of draft Solvency II Implementing Technical Standards (ITS).
The current ITS define the processes for approval of the Internal Models,
Matching Adjustment, Ancillary Own Funds, Undertaking-Specific Parameters
and Special Purpose Vehicles as well as the joint decision process on
Group Internal Models. The ITS are addressed both to undertakings and
national supervisors. Their purpose is to guarantee that (re)insurers
present all information that is necessary for supervisors to give a
legally certain and prudentially sound approval of key elements of
Solvency II.
The EC has to endorse the Implementing Technical Standards within 3 months.
Following endorsement, the ITS will be translated into all official EU
languages and will become legally binding.
In addition, as part of its transparency policy, EIOPA is publishing the
Final Report on the public consultation regarding this first Set of
Solvency II ITS, which includes an Impact Assessment, the resolution of
comments of stakeholders, and, in particular, the Opinion of EIOPA's
Insurance and Reinsurance Stakeholder Group.
All the documentation can be viewed on EIOPA's website (Link:
https://eiopa.europa.eu/publications/technical-standards/draft-implementing-technical-standards-on-the-supervisory-approval-processes-for-solvency-ii/index.html
).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
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donderdag 30 oktober 2014
EIOPA publishes Action Plan 2015/16 for Colleges and a list of cross-border insurance groups for which a College is in p
Click here (Link:
https://eiopa.europa.eu/activities/insurance/colleges-of-supervisors/index.html
)to read the Action Plan 2015/16 for Colleges and a list of cross-border
insurance groups for which a College is in place
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
https://eiopa.europa.eu/activities/insurance/colleges-of-supervisors/index.html
)to read the Action Plan 2015/16 for Colleges and a list of cross-border
insurance groups for which a College is in place
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
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password on the login page of the EIOPA Restricted Area.
woensdag 29 oktober 2014
EIOPA publishes a Consultation Paper on the Guidelines on product oversight & governance arrangements by insurance under
The European Insurance and Occupational Pensions Authority (EIOPA) has
issued today a public consultation (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ) on
Product Oversight & Governance (POG) arrangements by insurers. The
consultation is on proposed Guidelines to better protect consumers during
the early stages of product development to prevent miss-selling of
insurance products due to poor product design. The Guidelines will also
bring more consistent national supervisory practices. EIOPA wants to
ensure that:
Insurance products are always designed with specific consumer needs in
mind;Insurance products are always tested before being brought to the
market; Insurers only use distribution channels for products with the
knowledge and expertise needed to inform and advise the consumer about the
products; and Insurers consider how too many product variants can be bad
for the consumer.
The Guidelines are addressed to national authorities. They make clear that
full responsibility for compliance sits with insurers, even for products
designed by third parties.
The product oversight and governance arrangements are part of the system of
governance for insurers under Solvency II, and should be proportionate to
the level of complexity of the products as well as the scale of the
business of the insurer.
The consultation ends on 23 January 2015.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
issued today a public consultation (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ) on
Product Oversight & Governance (POG) arrangements by insurers. The
consultation is on proposed Guidelines to better protect consumers during
the early stages of product development to prevent miss-selling of
insurance products due to poor product design. The Guidelines will also
bring more consistent national supervisory practices. EIOPA wants to
ensure that:
Insurance products are always designed with specific consumer needs in
mind;Insurance products are always tested before being brought to the
market; Insurers only use distribution channels for products with the
knowledge and expertise needed to inform and advise the consumer about the
products; and Insurers consider how too many product variants can be bad
for the consumer.
The Guidelines are addressed to national authorities. They make clear that
full responsibility for compliance sits with insurers, even for products
designed by third parties.
The product oversight and governance arrangements are part of the system of
governance for insurers under Solvency II, and should be proportionate to
the level of complexity of the products as well as the scale of the
business of the insurer.
The consultation ends on 23 January 2015.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
maandag 27 oktober 2014
EU-U.S. Insurance Project reports on increased transatlantic cooperation
The Steering Committee of the EU-U.S. Insurance Project hosted on 25
October in Amsterdam a Forum dedicated to the evolution of group
supervision. Attended by insurance professionals from around the world,
the event provided an opportunity for exchange of views, suggestions and
practices between insurance companies and supervisory authorities from
both sides of the Atlantic.
The main purpose of the Forum was to highlight the initiatives of the EU-US
Insurance Project on group supervision and the use of Own Risk and
Solvency Assessment (ORSA). The Project parties expanded on their
intention to develop a clear designation of responsibilities for group and
solo supervisors within colleges. They are also going to formulate common
high-level principles for transatlantic colleges. Furthermore, the Project
plans to elaborate on common ORSA reporting elements for both EU and U.S.,
which would limit insurers duplicating of work on ORSA.
Gabriel Bernardino, Chairman of EIOPA, said: "During this Forum we
demonstrated that from the level of mutual understanding in general we are
making steps towards more concrete deliverables. I am happy to see this
move. We have to think and act in line with the increasingly global
environment we are living in. With the EU-U.S. Insurance Project we are on
the right track".
During the final session, the attendees learned about achievements and
current activities of the EU-U.S. Insurance Project. The Project parties
explained the updates that were recently made in the Project's Way
Forward document outlining the milestones to be achieved in the next
years.
Click here (Link:
https://eiopa.europa.eu/conferences-events/2014/public-event-of-the-eu-us-insurance-project-on-25-october-2014-in-amsterdam/index.html
) to find more information about the event.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
October in Amsterdam a Forum dedicated to the evolution of group
supervision. Attended by insurance professionals from around the world,
the event provided an opportunity for exchange of views, suggestions and
practices between insurance companies and supervisory authorities from
both sides of the Atlantic.
The main purpose of the Forum was to highlight the initiatives of the EU-US
Insurance Project on group supervision and the use of Own Risk and
Solvency Assessment (ORSA). The Project parties expanded on their
intention to develop a clear designation of responsibilities for group and
solo supervisors within colleges. They are also going to formulate common
high-level principles for transatlantic colleges. Furthermore, the Project
plans to elaborate on common ORSA reporting elements for both EU and U.S.,
which would limit insurers duplicating of work on ORSA.
Gabriel Bernardino, Chairman of EIOPA, said: "During this Forum we
demonstrated that from the level of mutual understanding in general we are
making steps towards more concrete deliverables. I am happy to see this
move. We have to think and act in line with the increasingly global
environment we are living in. With the EU-U.S. Insurance Project we are on
the right track".
During the final session, the attendees learned about achievements and
current activities of the EU-U.S. Insurance Project. The Project parties
explained the updates that were recently made in the Project's Way
Forward document outlining the milestones to be achieved in the next
years.
Click here (Link:
https://eiopa.europa.eu/conferences-events/2014/public-event-of-the-eu-us-insurance-project-on-25-october-2014-in-amsterdam/index.html
) to find more information about the event.
This newsletter was sent to you by:
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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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vrijdag 24 oktober 2014
EIOPA Conference 2014 (19 November 2014, Frankfurt am Main)=?utf-8?Q?_=E2=80=93_Last_chance_to_register?=
The European Insurance and Occupational Pensions Authority (EIOPA) would
like to remind you about the opportunity to register for its 4th Annual
Conference:
WhenWednesday, 19 November 2014
09:10–17:15
Followed by an informal get-togetherWhereCongress Center Messe Frankfurt
(Link:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html?subd=directions
)
Ludwig-Erhard-Anlage 1
60327 Frankfurt am Main, GermanyProgrammeHigh-profile speakers will cover
current hot topics in a keynote speech and three panel discussions:
Keynote: Jacques de Larosière, President, Eurofi
Panel sessions:
"Long-term financing of the economy – Sustainable Growth?"
"Pensions - Does the new EU Pensions Directive reflect the needs of IORPs
in Europe?"
"Solvency II - From Regulation to Supervision"
You can view the full programme here (Link:
https://eiopa.europa.eu/conferences-events/2014/eiopa-conference-2014/programme/index.html
). RegistrationRegistration is open until 17 November 2014 on the website
of the Conference organiser (online registration (Link:
http://www.eurofinanceweek.com/en/konferenzen/mittwoch-19-nov-2014/eiopa-conference
)) at a regular rate of EUR 800 (plus VAT).
For further information please visit the EIOPA conference website or
contact us at EIOPAConference@eiopa.europa.eu (Link:
EIOPAConference@eiopa.europa.eu ). We look forward to welcoming you on 19
November in Frankfurt am Main.
Yours sincerely,
The EIOPA Conference Team
EIOPA
WesthafenTower
Westhafenplatz 1
60327 Frankfurt am Main Germany
Tel: +49 69 9511 19-714
Fax: +49 69 9511 19-19
eiopaconference@eiopa.europa.eu (Link:
eiopaconference@eiopa.europa.eu )
https://eiopa.europa.eu/ (Link:
https://eiopa.europa.eu/home/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
like to remind you about the opportunity to register for its 4th Annual
Conference:
WhenWednesday, 19 November 2014
09:10–17:15
Followed by an informal get-togetherWhereCongress Center Messe Frankfurt
(Link:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html?subd=directions
)
Ludwig-Erhard-Anlage 1
60327 Frankfurt am Main, GermanyProgrammeHigh-profile speakers will cover
current hot topics in a keynote speech and three panel discussions:
Keynote: Jacques de Larosière, President, Eurofi
Panel sessions:
"Long-term financing of the economy – Sustainable Growth?"
"Pensions - Does the new EU Pensions Directive reflect the needs of IORPs
in Europe?"
"Solvency II - From Regulation to Supervision"
You can view the full programme here (Link:
https://eiopa.europa.eu/conferences-events/2014/eiopa-conference-2014/programme/index.html
). RegistrationRegistration is open until 17 November 2014 on the website
of the Conference organiser (online registration (Link:
http://www.eurofinanceweek.com/en/konferenzen/mittwoch-19-nov-2014/eiopa-conference
)) at a regular rate of EUR 800 (plus VAT).
For further information please visit the EIOPA conference website or
contact us at EIOPAConference@eiopa.europa.eu (Link:
EIOPAConference@eiopa.europa.eu ). We look forward to welcoming you on 19
November in Frankfurt am Main.
Yours sincerely,
The EIOPA Conference Team
EIOPA
WesthafenTower
Westhafenplatz 1
60327 Frankfurt am Main Germany
Tel: +49 69 9511 19-714
Fax: +49 69 9511 19-19
eiopaconference@eiopa.europa.eu (Link:
eiopaconference@eiopa.europa.eu )
https://eiopa.europa.eu/ (Link:
https://eiopa.europa.eu/home/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
dinsdag 21 oktober 2014
EIOPA publishes the speech by Gabriel Bernardino, Chairman of EIOPA, at the NAPF Conference in Liverpool
EIOPA publishes the speech by Gabriel Bernardino, Chairman of EIOPA, at the
NAPF Conference in Liverpool: "I want to express my admiration for the
unparalleled pace of change in the UK in the last decade. Not only have
you acknowledged that we face a real problem, but also you had the courage
to act. And it deserves our appreciation that you understood that reforms
in one of the pillars of the pension system should also lead to reforms in
the other pillars."
Click here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read the speech
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
NAPF Conference in Liverpool: "I want to express my admiration for the
unparalleled pace of change in the UK in the last decade. Not only have
you acknowledged that we face a real problem, but also you had the courage
to act. And it deserves our appreciation that you understood that reforms
in one of the pillars of the pension system should also lead to reforms in
the other pillars."
Click here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read the speech
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
maandag 20 oktober 2014
EIOPA issues Guidelines on the use of the Legal Entity Identifier
The European Insurance and Occupational Pensions Authority (EIOPA) issued
today its Guidelines on the use of the Legal Entity Identifier (LEI) in
all the official languages of the EU. According to them, national
competent authorities (NCAs) should ensure that all institutions under
their supervisory remit obtain a LEI code. The use of LEI will apply to
all information collected by EIOPA including Solvency II reporting and
registers.
Within 2 months, the NCAs should confirm to EIOPA their compliance or
intention to comply with the Guidelines on the use of LEI that will become
applicable on 31 December 2014.
With these Guidelines, EIOPA supports the adoption of the LEI system
proposed by the Financial Stability Board (FSB) and endorsed by the G20,
aimed at achieving a unique, worldwide identification of parties to
financial transactions. EIOPA believes that the use of LEIs will enhance
supervisory convergence and overall efficiency of the supervisory system
while ensuring the high quality, reliability and comparability of data.
In addition EIOPA publishes the Final Report on the public consultation on
the draft Guidelines related to the use of LEI, which contains the impact
assessment of the Guidelines and EIOPA's Feedback Statement on the
public consultation. The language versions of the Guidelines and other
documentation can be viewed here (Link:
https://eiopa.europa.eu/publications/eiopa-guidelines/guidelines-on-the-use-of-the-legal-entity-identifier/index.html
).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
today its Guidelines on the use of the Legal Entity Identifier (LEI) in
all the official languages of the EU. According to them, national
competent authorities (NCAs) should ensure that all institutions under
their supervisory remit obtain a LEI code. The use of LEI will apply to
all information collected by EIOPA including Solvency II reporting and
registers.
Within 2 months, the NCAs should confirm to EIOPA their compliance or
intention to comply with the Guidelines on the use of LEI that will become
applicable on 31 December 2014.
With these Guidelines, EIOPA supports the adoption of the LEI system
proposed by the Financial Stability Board (FSB) and endorsed by the G20,
aimed at achieving a unique, worldwide identification of parties to
financial transactions. EIOPA believes that the use of LEIs will enhance
supervisory convergence and overall efficiency of the supervisory system
while ensuring the high quality, reliability and comparability of data.
In addition EIOPA publishes the Final Report on the public consultation on
the draft Guidelines related to the use of LEI, which contains the impact
assessment of the Guidelines and EIOPA's Feedback Statement on the
public consultation. The language versions of the Guidelines and other
documentation can be viewed here (Link:
https://eiopa.europa.eu/publications/eiopa-guidelines/guidelines-on-the-use-of-the-legal-entity-identifier/index.html
).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
maandag 13 oktober 2014
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on further work on sol
Today EIOPA published a consultation paper on further technical work on the
holistic balance sheet to gather input from stakeholders. The paper
constitutes a further step in EIOPA's work on a risk-based framework for
occupational pension funds. EIOPA is undertaking this work on its own
initiative, in its role as independent advisor to the European political
institutions.
The consultation paper proposes improved definitions and methodologies to
value the holistic balance sheet, covering areas such as the valuation of
sponsor support, the benefit reduction mechanisms and discretionary
decision-making processes and the definition of contract boundaries.
Most importantly, the paper consults on different possible uses of the
holistic balance sheet within a supervisory framework, ranging from an
instrument to establish funding requirements to a risk management and
transparency tool to assess the long-term sustainability of IORPs.
The further work on the holistic balance sheet has to be tested through a
quantitative assessment. EIOPA expects to publish draft technical
specifications for such an assessment by early 2015.
The consultation will end on 13 January 2015.
The relevant documentation and the template for comments can be viewed
here: https://eiopa.europa.eu/consultations/consultation-papers/index.html
(Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
holistic balance sheet to gather input from stakeholders. The paper
constitutes a further step in EIOPA's work on a risk-based framework for
occupational pension funds. EIOPA is undertaking this work on its own
initiative, in its role as independent advisor to the European political
institutions.
The consultation paper proposes improved definitions and methodologies to
value the holistic balance sheet, covering areas such as the valuation of
sponsor support, the benefit reduction mechanisms and discretionary
decision-making processes and the definition of contract boundaries.
Most importantly, the paper consults on different possible uses of the
holistic balance sheet within a supervisory framework, ranging from an
instrument to establish funding requirements to a risk management and
transparency tool to assess the long-term sustainability of IORPs.
The further work on the holistic balance sheet has to be tested through a
quantitative assessment. EIOPA expects to publish draft technical
specifications for such an assessment by early 2015.
The consultation will end on 13 January 2015.
The relevant documentation and the template for comments can be viewed
here: https://eiopa.europa.eu/consultations/consultation-papers/index.html
(Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
woensdag 1 oktober 2014
The European Insurance and Occupational Pensions Authority (EIOPA) published a Consultation Paper on conflicts of intere
The European Commission asked EIOPA to provide technical advice on
organisational requirements obliging insurance intermediaries and
insurance undertakings to take appropriate measures to address conflicts
of interest arising in the distribution of insurance based investment
products.
Conflicts of interests may lead to severe consumer detriment. Consumer
protection is one of EIOPA's key objectives.
You can read the consultation paper here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
organisational requirements obliging insurance intermediaries and
insurance undertakings to take appropriate measures to address conflicts
of interest arising in the distribution of insurance based investment
products.
Conflicts of interests may lead to severe consumer detriment. Consumer
protection is one of EIOPA's key objectives.
You can read the consultation paper here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
EIOPA published its Work Programme 2015 and Multi Annual Work Programme 2015-17
EIOPA's Multi-Annual Work Programme 2015-2017 (Link:
https://eiopa.europa.eu/about-eiopa/work-programme/multi-annual-work-programme-2015-2017/index.html
) establishes where the focus of the Authority's work lies. It links the
specific annual and multi-annual products and services of the Authority to
its overall strategic goals:
to ensure transparency, simplicity, accessibility and fairness across the
internal market for consumers; to lead the development of sound and
prudent regulations supporting the EU internal market; to improve the
quality, efficiency and consistency of the supervision of EU insurers and
occupational pensions;to identify, assess, mitigate and manage risks and
threats to the financial stability of the insurance and occupational
pensions sectors; and EIOPA to act as a modern, competent and professional
organisation, with effective governance arrangements, efficient processes
and a positive reputation.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
https://eiopa.europa.eu/about-eiopa/work-programme/multi-annual-work-programme-2015-2017/index.html
) establishes where the focus of the Authority's work lies. It links the
specific annual and multi-annual products and services of the Authority to
its overall strategic goals:
to ensure transparency, simplicity, accessibility and fairness across the
internal market for consumers; to lead the development of sound and
prudent regulations supporting the EU internal market; to improve the
quality, efficiency and consistency of the supervision of EU insurers and
occupational pensions;to identify, assess, mitigate and manage risks and
threats to the financial stability of the insurance and occupational
pensions sectors; and EIOPA to act as a modern, competent and professional
organisation, with effective governance arrangements, efficient processes
and a positive reputation.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
maandag 29 september 2014
The Mayor of Frankfurt visits EIOPA
The Mayor of Frankfurt Peter Feldmann visited EIOPA today, 29 September
2014.
During his visit the Mayor was offered a tour around the newly opened floor
of the Authority and afterwards discussed with its officials the main
strategic goals and priorities of EIOPA.
Mr Feldmann indicated that currently 78 insurance companies and branch
offices are located in Frankfurt, offering 9,000 jobs in the insurance
sector of the city. He also noted that besides EIOPA the city has become a
seat for the European Central Bank, the Single Supervisory Mechanism and
the European Systemic Risk Board. "We are proud of Frankfurt's growing
role as a major centre for financial regulation, which gives to our city a
specific European importance", he said.
In its turn Carlos Montalvo, Executive Director of EIOPA, thanked the City
of Frankfurt for the long-term support and cooperation. "All of us
working at EIOPA enjoy being part of the city by having close links to the
Goethe University, cultural and social institutions and, above all, its
people", he emphasized. "At the same time, thanks to the excellent
infrastructure of Frankfurt, EIOPA will further enhance its role as the
European hub for insurance regulation and supervision".
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
2014.
During his visit the Mayor was offered a tour around the newly opened floor
of the Authority and afterwards discussed with its officials the main
strategic goals and priorities of EIOPA.
Mr Feldmann indicated that currently 78 insurance companies and branch
offices are located in Frankfurt, offering 9,000 jobs in the insurance
sector of the city. He also noted that besides EIOPA the city has become a
seat for the European Central Bank, the Single Supervisory Mechanism and
the European Systemic Risk Board. "We are proud of Frankfurt's growing
role as a major centre for financial regulation, which gives to our city a
specific European importance", he said.
In its turn Carlos Montalvo, Executive Director of EIOPA, thanked the City
of Frankfurt for the long-term support and cooperation. "All of us
working at EIOPA enjoy being part of the city by having close links to the
Goethe University, cultural and social institutions and, above all, its
people", he emphasized. "At the same time, thanks to the excellent
infrastructure of Frankfurt, EIOPA will further enhance its role as the
European hub for insurance regulation and supervision".
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
dinsdag 23 september 2014
EIOPA publishes the Statement by Gabriel Bernardino, Chairman of EIOPA, at the Hearing at the Economic and Monetary Affa
Click here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read the statement
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read the statement
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
maandag 1 september 2014
Statement by EC, EIOPA and the ASF about the assessment of the Romanian insurance sector
Statement by EC, EIOPA and the ASF about the assessment of the Romanian
insurance sector. Click here (Link:
https://eiopa.europa.eu/press-room/press-releases/index.html )to read the
press release
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
insurance sector. Click here (Link:
https://eiopa.europa.eu/press-room/press-releases/index.html )to read the
press release
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
vrijdag 1 augustus 2014
EU-U.S. Insurance Project updates its strategy
In light of recent developments in the EU and the U.S., and of progress to
date on the EU-U.S. Insurance Project, its Steering Committee has
revisited and updated the Way Forward document, reaffirming by this its
commitment to the objectives of the Project. The updated strategy includes
new relevant initiatives that will contribute to achieve the overall goals
of the Project.
The new Way Forward document is available on EIOPA's website
(Link:
https://eiopa.europa.eu/publications/protocols/index.html ).
As part of its strategy to involve different stakeholders, the Project is
going to organise a public event dedicated to the evolution in group
supervision. The event will take place on 25 October 2014 in Amsterdam and
will provide a platform for opinion exchange among key regulatory and
industry representatives from both sides of the Atlantic. During one of
the panel discussions the Steering Committee members are going to discuss
the Way Forward, achievements and next steps of the Project.
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date on the EU-U.S. Insurance Project, its Steering Committee has
revisited and updated the Way Forward document, reaffirming by this its
commitment to the objectives of the Project. The updated strategy includes
new relevant initiatives that will contribute to achieve the overall goals
of the Project.
The new Way Forward document is available on EIOPA's website
(Link:
https://eiopa.europa.eu/publications/protocols/index.html ).
As part of its strategy to involve different stakeholders, the Project is
going to organise a public event dedicated to the evolution in group
supervision. The event will take place on 25 October 2014 in Amsterdam and
will provide a platform for opinion exchange among key regulatory and
industry representatives from both sides of the Atlantic. During one of
the panel discussions the Steering Committee members are going to discuss
the Way Forward, achievements and next steps of the Project.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
donderdag 31 juli 2014
Update on Data Point Model and XBRL taxonomy design
The European Insurance and Occupational Pensions Authority (EIOPA)
publishes an update on the Data Point Model (DPM) and XBRL taxonomy
design.
Indications about those parts that have been updated are provided in the
"Release Notes" and "The Taxonomy Framework Architecture
Documentation".
In addition, EIOPA publishes a "Test Instance Release Package". It
contains a set of test cases allowing to conduct a practical check of
different elements of the XBRL Taxonomy.
EIOPA strongly recommends undertakings and software vendors to base their
work only on the most recent version of the Data Point Model and XBRL
taxonomy. The previous versions published by EIOPA are considered as
outdated.
Further major releases of the Preparatory Solvency II DPM and XBRL Taxonomy
are not foreseen, unless outstanding issues are detected. Hotfixes will be
released to solve potential minor issues.
Harmonised EU-wide reporting formats are crucial to ensure a consistent
implementation of European regulatory and supervisory frameworks to
support EIOPA's goal to improve the consistency and efficiency and
consistency of the supervision of financial institutions practices across
Europe.
Principles, rules and design approaches used in the current publication are
still under consideration and subject to further changes.
To contact EIOPA about information published in this section please use the
dedicated e-mail address: xbrl{at}eiopa.europa.eu (Link:
xbrl@eiopa.europa.eu )
Click here (Link:
https://eiopa.europa.eu/publications/solvency-ii-reporting-format/index.html
)to access the relevant page at EIOPA website.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
publishes an update on the Data Point Model (DPM) and XBRL taxonomy
design.
Indications about those parts that have been updated are provided in the
"Release Notes" and "The Taxonomy Framework Architecture
Documentation".
In addition, EIOPA publishes a "Test Instance Release Package". It
contains a set of test cases allowing to conduct a practical check of
different elements of the XBRL Taxonomy.
EIOPA strongly recommends undertakings and software vendors to base their
work only on the most recent version of the Data Point Model and XBRL
taxonomy. The previous versions published by EIOPA are considered as
outdated.
Further major releases of the Preparatory Solvency II DPM and XBRL Taxonomy
are not foreseen, unless outstanding issues are detected. Hotfixes will be
released to solve potential minor issues.
Harmonised EU-wide reporting formats are crucial to ensure a consistent
implementation of European regulatory and supervisory frameworks to
support EIOPA's goal to improve the consistency and efficiency and
consistency of the supervision of financial institutions practices across
Europe.
Principles, rules and design approaches used in the current publication are
still under consideration and subject to further changes.
To contact EIOPA about information published in this section please use the
dedicated e-mail address: xbrl{at}eiopa.europa.eu (Link:
xbrl@eiopa.europa.eu )
Click here (Link:
https://eiopa.europa.eu/publications/solvency-ii-reporting-format/index.html
)to access the relevant page at EIOPA website.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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EIOPA publishes the Underlying Assumptions in the standard formula for the SCR calculation
The European Insurance and Occupational Pensions Authority (EIOPA) has
published the Underlying Assumptions in the standard formula for the
Solvency Capital Requirement (SCR) calculation.
The paper aims to support supervisors and undertakings in application of
the Solvency II Preparatory Guidelines on forward looking assessment of
own risks (FLAOR).
EIOPA committed to develop this paper as a follow-up to its public
consultation on Solvency II Preparatory Guidelines in 2013. Several
stakeholders asked for a transparent and comprehensive guidance on how to
fulfil the requirement to assess the deviation of their risk profile from
the underlying assumptions in the FLAOR process, and EIOPA has
acknowledged the need for such clarifications. Undertakings are requested
to fulfil this assessment in their FLAOR from 2015 onwards.
The legal status of the document is similar to the Technical Specifications
issued by EIOPA in April 2014. It reflects the content of the Solvency II
and Omnibus II Directives as well as the available draft of the (Level 2)
Delegated Acts.
Click here (Link:
https://eiopa.europa.eu/publications/technical-specifications/index.html
)to access the relevant page at EIOPA website.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
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password on the login page of the EIOPA Restricted Area.
published the Underlying Assumptions in the standard formula for the
Solvency Capital Requirement (SCR) calculation.
The paper aims to support supervisors and undertakings in application of
the Solvency II Preparatory Guidelines on forward looking assessment of
own risks (FLAOR).
EIOPA committed to develop this paper as a follow-up to its public
consultation on Solvency II Preparatory Guidelines in 2013. Several
stakeholders asked for a transparent and comprehensive guidance on how to
fulfil the requirement to assess the deviation of their risk profile from
the underlying assumptions in the FLAOR process, and EIOPA has
acknowledged the need for such clarifications. Undertakings are requested
to fulfil this assessment in their FLAOR from 2015 onwards.
The legal status of the document is similar to the Technical Specifications
issued by EIOPA in April 2014. It reflects the content of the Solvency II
and Omnibus II Directives as well as the available draft of the (Level 2)
Delegated Acts.
Click here (Link:
https://eiopa.europa.eu/publications/technical-specifications/index.html
)to access the relevant page at EIOPA website.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
dinsdag 29 juli 2014
EIOPA Conference (19 November 2014, Frankfurt) - Early Bird registration deadline ends 31 July
The 4th Annual EIOPA Conference, taking place on 19 November 2014 in
Frankfurt am Main, is organised within the framework of Europe's largest
meeting point for the finance and insurance industry: the Euro Finance
Week.
High-profile speakers will cover current topics in keynote speeches and in
three panel discussions:
"Long-term financing of the economy – Sustainable Growth?"
"Pensions - Does the new EU Pensions Directive reflect the needs of
IORPs in Europe?" "Solvency II - From Regulation to Supervision"
With more than 350 participants from the financial services industry, EU
institutions, as well as consumer representatives, consultants, academics
and national supervisory authority staff, the EIOPA Conference is the
central discussion forum for policymakers and the insurance and pensions
industry in Europe.
Don't miss this unique opportunity to listen to and participate in
interesting and lively debates, to exchange views with your peers, and to
benefit from excellent networking opportunities.
Registration
Early-bird registration ends on 31 July: Register online (Link:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html ) at a
reduced rate of EUR 690 plus VAT (regular ticket price: EUR 800 plus VAT).
Conference programme
The conference programme is available here (Link:
https://eiopa.europa.eu/conferences-events/2014/eiopa-conference-2014/programme/index.html
).
For further information please visit the EIOPA Conference website
(Link:
https://eiopa.europa.eu/conferences-events/2014/eiopa-conference-2014/index.html
) or contact EIOPAConference@eiopa.europa.eu (Link:
EIOPAConference@eiopa.europa.eu ). We look forward to welcoming you on 19
November in Frankfurt.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
Frankfurt am Main, is organised within the framework of Europe's largest
meeting point for the finance and insurance industry: the Euro Finance
Week.
High-profile speakers will cover current topics in keynote speeches and in
three panel discussions:
"Long-term financing of the economy – Sustainable Growth?"
"Pensions - Does the new EU Pensions Directive reflect the needs of
IORPs in Europe?" "Solvency II - From Regulation to Supervision"
With more than 350 participants from the financial services industry, EU
institutions, as well as consumer representatives, consultants, academics
and national supervisory authority staff, the EIOPA Conference is the
central discussion forum for policymakers and the insurance and pensions
industry in Europe.
Don't miss this unique opportunity to listen to and participate in
interesting and lively debates, to exchange views with your peers, and to
benefit from excellent networking opportunities.
Registration
Early-bird registration ends on 31 July: Register online (Link:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html ) at a
reduced rate of EUR 690 plus VAT (regular ticket price: EUR 800 plus VAT).
Conference programme
The conference programme is available here (Link:
https://eiopa.europa.eu/conferences-events/2014/eiopa-conference-2014/programme/index.html
).
For further information please visit the EIOPA Conference website
(Link:
https://eiopa.europa.eu/conferences-events/2014/eiopa-conference-2014/index.html
) or contact EIOPAConference@eiopa.europa.eu (Link:
EIOPAConference@eiopa.europa.eu ). We look forward to welcoming you on 19
November in Frankfurt.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
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password on the login page of the EIOPA Restricted Area.
donderdag 24 juli 2014
EBA, ESMA and EIOPA consult on technical standards for financial conglomerates risk concentration and intra-group transa
The Joint Committee of the three European Supervisory Authorities (ESAs -
EBA, ESMA and EIOPA) launched today a consultation on draft Regulatory
Technical Standards (RTS) on risk concentration and intra-group
transactions within financial conglomerates. The technical standards aim
at enhancing supervisory consistency in the application of the Financial
Conglomerates Directive (FICOD). The consultation runs until 24 October
2014.
The objective of the draft RTS is to clarify which risk concentrations and
intra-group transactions within a financial conglomerate should be
considered as significant. In addition, the RTS provide some supervisory
measures for coordinators and other relevant competent authorities when
identifying types of significant risk concentration and intra-group
transactions, their associated thresholds and reports, where appropriate.
The consultation paper (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ) is
available on the websites of the three ESAs: EBA, ESMA and EIOPA.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
EBA, ESMA and EIOPA) launched today a consultation on draft Regulatory
Technical Standards (RTS) on risk concentration and intra-group
transactions within financial conglomerates. The technical standards aim
at enhancing supervisory consistency in the application of the Financial
Conglomerates Directive (FICOD). The consultation runs until 24 October
2014.
The objective of the draft RTS is to clarify which risk concentrations and
intra-group transactions within a financial conglomerate should be
considered as significant. In addition, the RTS provide some supervisory
measures for coordinators and other relevant competent authorities when
identifying types of significant risk concentration and intra-group
transactions, their associated thresholds and reports, where appropriate.
The consultation paper (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ) is
available on the websites of the three ESAs: EBA, ESMA and EIOPA.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
maandag 14 juli 2014
EIOPA published a speech by Gabriel Bernardino, Chairman of EIOPA, at the EIOPA Public event on Conflicts of Interest in
EIOPA published a speech by Gabriel Bernardino, Chairman of EIOPA, at the
EIOPA Public event on Conflicts of Interest in Frankfurt: "Insurers and
intermediairies have to put the customer at the heart of their business.
Reality is that firms have to take full responsibility for well-protected
and satisfied policy holders. We should not be under any illusion that
conflicts of interest do not bring harm to customers"
You could read the speech here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
EIOPA Public event on Conflicts of Interest in Frankfurt: "Insurers and
intermediairies have to put the customer at the heart of their business.
Reality is that firms have to take full responsibility for well-protected
and satisfied policy holders. We should not be under any illusion that
conflicts of interest do not bring harm to customers"
You could read the speech here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
donderdag 10 juli 2014
EIOPA published its 2014 Report on Cross Border IORP Market Developments
Total assets in the EER over three trillion euro's; only 75 cross-border
IORPs. Click here to read the report (Link:
https://eiopa.europa.eu/publications/reports/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
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password on the login page of the EIOPA Restricted Area.
IORPs. Click here to read the report (Link:
https://eiopa.europa.eu/publications/reports/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
maandag 7 juli 2014
EIOPA just published a speech by Chairman Gabriel Bernardino: Back to basics in consumer protection: a fair treatment
Click here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read speech by Gabriel Bernardino, Chairman of EIOPA, at the Better
Finance for All Conference in Reykjavik
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read speech by Gabriel Bernardino, Chairman of EIOPA, at the Better
Finance for All Conference in Reykjavik
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
maandag 30 juni 2014
EIOPA issued its strategy and action plan on consumer detriment in occupational pensions
Pensions are of the utmost importance for consumers, but at the same time
pensions are often perceived as a very complex topic. In order to ensure
the protection of pension scheme members and beneficiaries, EIOPA
published a report (Link:
https://eiopa.europa.eu/activities/consumer-protection-and-financial-innovation/index.html
)to adopt a systematic approach to this issue. EIOPA will analyse and take
action on, for example, the following issues: Management of occupational
pension schemes (charges; value for money; training standards); Lack of
European convergence (portability of acquired rights); and Insufficient
availability and comparability of relevant information.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
pensions are often perceived as a very complex topic. In order to ensure
the protection of pension scheme members and beneficiaries, EIOPA
published a report (Link:
https://eiopa.europa.eu/activities/consumer-protection-and-financial-innovation/index.html
)to adopt a systematic approach to this issue. EIOPA will analyse and take
action on, for example, the following issues: Management of occupational
pension schemes (charges; value for money; training standards); Lack of
European convergence (portability of acquired rights); and Insufficient
availability and comparability of relevant information.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
vrijdag 27 juni 2014
EIOPA consults on the use of Legal Entity Identifier
The European Insurance and Occupational Pensions Authority (EIOPA) invites
market participants and all the other interested parties to provide their
feedback on its draft Guidelines related to the use of the Legal Entity
Identifier (LEI).
It has been recognised that the lack of a commonly used identifier has a
negative impact on the quality of data collection, storage and
dissemination, making these processes costly and less efficient for
national supervisors and EIOPA. The purpose of the current draft
Guidelines is to facilitate the use of LEIs as unique identification codes
for (re)insurance undertakings as well as for institutions for
occupational retirement provision.
With these Guidelines, EIOPA supports the adoption of the LEI system
proposed by the Financial Stability Board and endorsed by the G20. This
system aims at achieving a unique, worldwide identification of parties to
financial transactions.
The consultation will end on 29 August 2014. Please note that comments
submitted after the deadline or not submitted on the provided template
cannot be processed.
The consultation paper and the template for comments can be viewed here
(Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html#c6551 )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
market participants and all the other interested parties to provide their
feedback on its draft Guidelines related to the use of the Legal Entity
Identifier (LEI).
It has been recognised that the lack of a commonly used identifier has a
negative impact on the quality of data collection, storage and
dissemination, making these processes costly and less efficient for
national supervisors and EIOPA. The purpose of the current draft
Guidelines is to facilitate the use of LEIs as unique identification codes
for (re)insurance undertakings as well as for institutions for
occupational retirement provision.
With these Guidelines, EIOPA supports the adoption of the LEI system
proposed by the Financial Stability Board and endorsed by the G20. This
system aims at achieving a unique, worldwide identification of parties to
financial transactions.
The consultation will end on 29 August 2014. Please note that comments
submitted after the deadline or not submitted on the provided template
cannot be processed.
The consultation paper and the template for comments can be viewed here
(Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html#c6551 )
This newsletter was sent to you by:
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password on the login page of the EIOPA Restricted Area.
woensdag 25 juni 2014
The EIOPA Opinion on Payment Protection Insurance triggered significant action
EIOPA's Opinion on miss-selling in Payment Protection Insurance (PPI)
triggered significant initiatives (Link:
https://eiopa.europa.eu/activities/consumer-protection-and-financial-innovation/index.html
) in a number of national markets while in others new actions follow
previous ones. Most of the recent developments focus on information
provision, cross-selling/commission issues and selling practices in
general. EIOPA will continue to monitor national developments, and decides
on any potential follow-up action at a later stage. This information
results from feedback from National Competent Authorities (NCAs).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
triggered significant initiatives (Link:
https://eiopa.europa.eu/activities/consumer-protection-and-financial-innovation/index.html
) in a number of national markets while in others new actions follow
previous ones. Most of the recent developments focus on information
provision, cross-selling/commission issues and selling practices in
general. EIOPA will continue to monitor national developments, and decides
on any potential follow-up action at a later stage. This information
results from feedback from National Competent Authorities (NCAs).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
woensdag 18 juni 2014
EIOPA's ITS endorsed by European Commission
The Implementing Technical Standards (Link:
https://eiopa.europa.eu/publications/technical-standards/index.html )
(ITS) on reporting of prudential provisions in occupational pensions was
endorsed and has been published in the Official Journal as Commission
Regulation No 643/2014. The ITS promotes transparency and comparability of
national provisions of prudential nature in the EU and also helps
promoting cross-border activities of IORPs. It provides a uniform way of
transmitting and updating the relevant information to EIOPA by competent
authorities.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
https://eiopa.europa.eu/publications/technical-standards/index.html )
(ITS) on reporting of prudential provisions in occupational pensions was
endorsed and has been published in the Official Journal as Commission
Regulation No 643/2014. The ITS promotes transparency and comparability of
national provisions of prudential nature in the EU and also helps
promoting cross-border activities of IORPs. It provides a uniform way of
transmitting and updating the relevant information to EIOPA by competent
authorities.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
maandag 16 juni 2014
EIOPA published a speech by Gabriel Bernardino, Chairman of EIOPA, at the AMICE Congress 2014 in Nice
EIOPA published a speech by Gabriel Bernardino, Chairman of EIOPA, at the
AMICE Congress 2014 in Nice.
Click here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read the speech.
This newsletter was sent to you by:
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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
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https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
AMICE Congress 2014 in Nice.
Click here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read the speech.
This newsletter was sent to you by:
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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
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password on the login page of the EIOPA Restricted Area.
vrijdag 13 juni 2014
EIOPA publishes its Annual Report 2013
The European Insurance and Occupational Pensions Authority (EIOPA)
published today its Annual Report 2013.
2013 has marked the third year since the establishment of the European
System of Financial Supervision (ESFS) and the foundation of EIOPA as part
of this System. EIOPA continued to develop its role and profile within the
European supervisory landscape. The Annual Report 2013 sets out EIOPA's
main achievements of meeting its strategic objectives related to the
enhanced consumer protection; development of sound regulation; improved
supervision; and timely identification and management of risks to
financial stability. The publication also describes the work EIOPA has
undertaken to ensure efficiency and effectiveness of its operation.
Gabriel Bernardino, Chairman of EIOPA, stated: "In all the major areas of
our work we delivered important milestones during 2013. In our daily
business we adhered to the corporate values of EIOPA. We acted
independently and objectively. Our advices and reports were based on in
depth analysis and research and benefited from transparent public
consultation processes and specific discussions and input from our two
stakeholder groups. Accountability and transparency have been the
cornerstones of our relations with the external world".
Carlos Montalvo, Executive Director of EIOPA, emphasised: "Going forward,
three years since the ESFS's creation, the time for reviewing the System
is approaching. I therefore call upon the EU public institutions to seize
this opportunity to make the operation of the ESFS more dynamic and
efficient. EIOPA has proved to be successful, but we have much greater
potential. The chance to improve the ESFS is one not to be missed!"
The full text of the Annual Report 2013 is available here
(Link:
https://eiopa.europa.eu/publications/annual-reports/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
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password on the login page of the EIOPA Restricted Area.
published today its Annual Report 2013.
2013 has marked the third year since the establishment of the European
System of Financial Supervision (ESFS) and the foundation of EIOPA as part
of this System. EIOPA continued to develop its role and profile within the
European supervisory landscape. The Annual Report 2013 sets out EIOPA's
main achievements of meeting its strategic objectives related to the
enhanced consumer protection; development of sound regulation; improved
supervision; and timely identification and management of risks to
financial stability. The publication also describes the work EIOPA has
undertaken to ensure efficiency and effectiveness of its operation.
Gabriel Bernardino, Chairman of EIOPA, stated: "In all the major areas of
our work we delivered important milestones during 2013. In our daily
business we adhered to the corporate values of EIOPA. We acted
independently and objectively. Our advices and reports were based on in
depth analysis and research and benefited from transparent public
consultation processes and specific discussions and input from our two
stakeholder groups. Accountability and transparency have been the
cornerstones of our relations with the external world".
Carlos Montalvo, Executive Director of EIOPA, emphasised: "Going forward,
three years since the ESFS's creation, the time for reviewing the System
is approaching. I therefore call upon the EU public institutions to seize
this opportunity to make the operation of the ESFS more dynamic and
efficient. EIOPA has proved to be successful, but we have much greater
potential. The chance to improve the ESFS is one not to be missed!"
The full text of the Annual Report 2013 is available here
(Link:
https://eiopa.europa.eu/publications/annual-reports/index.html )
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
woensdag 11 juni 2014
European Commission asks EIOPA for advice on transferability of supplementary pension rights
European Commission asks EIOPA for advice on transferability of
supplementary pension rights.
Click here (Link:
https://eiopa.europa.eu/publications/requests-for-advice/index.html )to
see the call for advice
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
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password on the login page of the EIOPA Restricted Area.
supplementary pension rights.
Click here (Link:
https://eiopa.europa.eu/publications/requests-for-advice/index.html )to
see the call for advice
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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password on the login page of the EIOPA Restricted Area.
EIOPA organizes a public event on Insurance Mediation Directive
EIOPA is hosting a public event in Frankfurt on 11th July 2014. An exchange
of views on the EIOPA Discussion Paper (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html#c6483 )
on conflicts of interest in sales of insurance-based investment products
is planned. This follows the mandate from the European Commission to EIOPA
for technical advice. Topics that will be addressed during the event
include
what are the types of conflict of interest that could harm customers? how
can these conflicts of interest be best avoided or managed? how can
conflicts of interest be best addressed for very small intermediaries?
what are the challenges in addressing conflicts of interest for large
insurance undertakings? what are the disclosures that should be made to
customers, and when?
EIOPA has published the preliminary programme (Link:
https://eiopa.europa.eu/conferences-events/2014/public-event-on-insurance-mediation-directive-frankfurt/index.html
) on its website. Participants are welcomed to register. Places are
limited, confirmations will be sent two weeks in advance of the event.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
of views on the EIOPA Discussion Paper (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html#c6483 )
on conflicts of interest in sales of insurance-based investment products
is planned. This follows the mandate from the European Commission to EIOPA
for technical advice. Topics that will be addressed during the event
include
what are the types of conflict of interest that could harm customers? how
can these conflicts of interest be best avoided or managed? how can
conflicts of interest be best addressed for very small intermediaries?
what are the challenges in addressing conflicts of interest for large
insurance undertakings? what are the disclosures that should be made to
customers, and when?
EIOPA has published the preliminary programme (Link:
https://eiopa.europa.eu/conferences-events/2014/public-event-on-insurance-mediation-directive-frankfurt/index.html
) on its website. Participants are welcomed to register. Places are
limited, confirmations will be sent two weeks in advance of the event.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
dinsdag 3 juni 2014
EIOPA Conference - 19 November 2014 (Frankfurt) REGISTER NOW!
Dear Sir or Madam,
The European Insurance and Occupational Pensions Authority (EIOPA) is
pleased to announce that registration for its annual conference is now
open. The 4th edition of the EIOPA Conference, taking place on 19 November
2014 in Frankfurt am Main, is organised in the framework of Europe's
largest meeting point for the finance and insurance industry: the Euro
Finance Week.
Besides speeches from key-position holders at European Institutions, the
event will include three panel discussions entitled as follows:
- "Long-term financing of the economy – Sustainable Growth?"
- "Pensions - Does the new EU Pensions Directive reflect the needs of
IORPs in Europe?"
- "Solvency II - From Regulation to Supervision"
High-profile speakers will offer in-depth analyses to over 350 participants
from the financial services industry, EU institutions, as well as consumer
representatives, consultants, academics and national supervisory authority
staff.
We are confident that this year's Annual Conference will be a unique
opportunity for very interesting and lively dialogues, giving an
opportunity to exchange views on the recent regulatory and supervisory
developments in the (re)insurance and pensions sectors.
Registration is now open at the link below on the website of the Conference
organiser (online registration). Please note that you can register at a
reduced rate of EUR 690 plus VAT. However, this "early-bird" rate is
only valid until 31 July 2014:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html
(Link:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html )
The detailed programme will be circulated in due course. In the meantime,
should you have any questions, please feel free to contact us at
EIOPAConference@eiopa.europa.eu (Link:
EIOPAConference@eiopa.europa.eu ).
We look forward to inspiring discussions and networking opportunities in
the dynamic setting of the 17th EURO FINANCE WEEK.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
The European Insurance and Occupational Pensions Authority (EIOPA) is
pleased to announce that registration for its annual conference is now
open. The 4th edition of the EIOPA Conference, taking place on 19 November
2014 in Frankfurt am Main, is organised in the framework of Europe's
largest meeting point for the finance and insurance industry: the Euro
Finance Week.
Besides speeches from key-position holders at European Institutions, the
event will include three panel discussions entitled as follows:
- "Long-term financing of the economy – Sustainable Growth?"
- "Pensions - Does the new EU Pensions Directive reflect the needs of
IORPs in Europe?"
- "Solvency II - From Regulation to Supervision"
High-profile speakers will offer in-depth analyses to over 350 participants
from the financial services industry, EU institutions, as well as consumer
representatives, consultants, academics and national supervisory authority
staff.
We are confident that this year's Annual Conference will be a unique
opportunity for very interesting and lively dialogues, giving an
opportunity to exchange views on the recent regulatory and supervisory
developments in the (re)insurance and pensions sectors.
Registration is now open at the link below on the website of the Conference
organiser (online registration). Please note that you can register at a
reduced rate of EUR 690 plus VAT. However, this "early-bird" rate is
only valid until 31 July 2014:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html
(Link:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html )
The detailed programme will be circulated in due course. In the meantime,
should you have any questions, please feel free to contact us at
EIOPAConference@eiopa.europa.eu (Link:
EIOPAConference@eiopa.europa.eu ).
We look forward to inspiring discussions and networking opportunities in
the dynamic setting of the 17th EURO FINANCE WEEK.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
woensdag 28 mei 2014
Update on Data Point Model and XBRL taxonomy design
The European Insurance and Occupational Pensions Authority (EIOPA)
publishes updated information on the Data Point Model and XBRL taxonomy
design that have been developed in accordance with the EIOPA Guidelines on
Submission of Information to national competent authorities.
The purpose of the publication is to increase the awareness and collect
technical feedback from the relevant market participants.
Harmonised EU-wide reporting formats are crucial to ensure a consistent
implementation of European regulatory and supervisory frameworks to
support EIOPA's goal to improve the consistency and efficiency and
consistency of the supervision of financial institutions practices across
Europe.
Principles, rules and design approaches used in the current publication are
still under consideration and subject to further changes.
To contact EIOPA about information published in this section please use the
dedicated e-mail address: xbrl{at}eiopa.europa.eu (Link:
xbrl@eiopa.europa.eu )
Click here (Link:
https://eiopa.europa.eu/publications/solvency-ii-reporting-format/index.html
)to access the relevant page at EIOPA website.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
publishes updated information on the Data Point Model and XBRL taxonomy
design that have been developed in accordance with the EIOPA Guidelines on
Submission of Information to national competent authorities.
The purpose of the publication is to increase the awareness and collect
technical feedback from the relevant market participants.
Harmonised EU-wide reporting formats are crucial to ensure a consistent
implementation of European regulatory and supervisory frameworks to
support EIOPA's goal to improve the consistency and efficiency and
consistency of the supervision of financial institutions practices across
Europe.
Principles, rules and design approaches used in the current publication are
still under consideration and subject to further changes.
To contact EIOPA about information published in this section please use the
dedicated e-mail address: xbrl{at}eiopa.europa.eu (Link:
xbrl@eiopa.europa.eu )
Click here (Link:
https://eiopa.europa.eu/publications/solvency-ii-reporting-format/index.html
)to access the relevant page at EIOPA website.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
donderdag 22 mei 2014
EIOPA has launched a Discussion Paper on conflicts of interest
The European Insurance and Occupational Pensions Authority (EIOPA) has
launched a Discussion Paper on conflicts of interest in the distribution
of insurance-based investment products, following amendments to the
Insurance Mediation Directive. Conflicts of interest, where sellers do not
put the customers' interest first, can lead to harm for customers, and
the Discussion Paper explores how to tackle this. Views from all types of
stakeholders on the Discussion Paper are sought by the end of 22 July.
EIOPA will consider the feedback and prepare its advice to the European
Commission, with a further consultation on its conclusions in the autumn.
A Public Event in order to debate the issues is planned in Frankfurt for
the 11 July. You can find the Discussion Paper here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
launched a Discussion Paper on conflicts of interest in the distribution
of insurance-based investment products, following amendments to the
Insurance Mediation Directive. Conflicts of interest, where sellers do not
put the customers' interest first, can lead to harm for customers, and
the Discussion Paper explores how to tackle this. Views from all types of
stakeholders on the Discussion Paper are sought by the end of 22 July.
EIOPA will consider the feedback and prepare its advice to the European
Commission, with a further consultation on its conclusions in the autumn.
A Public Event in order to debate the issues is planned in Frankfurt for
the 11 July. You can find the Discussion Paper here (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html ).
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
vrijdag 16 mei 2014
“Comply or explain” process on the Guidelines on Complaints-Handling by Insurance Intermediaries
EIOPA has initiated the "comply or explain" process on the Guidelines
on complaints-handling by insurance intermediaries. The translations of
the Guidelines are available here (Link:
https://eiopa.europa.eu/publications/eiopa-guidelines/guidelines-on-complaints-handling-by-insurance-intermediaries/index.html
).
The Guidelines are subject to a comply-or-explain procedure whereby
competent authorities are expected to make every effort to comply with
them. During a 2-month period each competent authority will need to
confirm whether they comply or intend to comply with the Guidelines. In
the event that a competent authority does not comply or does not intend to
comply, it will need to inform EIOPA, stating its reasons. EIOPA will
publish the fact that a competent authority does not comply or does not
intend to comply with that guideline or recommendation. EIOPA may also
decide, on a case-by-case basis, to publish the reasons provided by the
competent authority for not complying with that guideline or
recommendation.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
on complaints-handling by insurance intermediaries. The translations of
the Guidelines are available here (Link:
https://eiopa.europa.eu/publications/eiopa-guidelines/guidelines-on-complaints-handling-by-insurance-intermediaries/index.html
).
The Guidelines are subject to a comply-or-explain procedure whereby
competent authorities are expected to make every effort to comply with
them. During a 2-month period each competent authority will need to
confirm whether they comply or intend to comply with the Guidelines. In
the event that a competent authority does not comply or does not intend to
comply, it will need to inform EIOPA, stating its reasons. EIOPA will
publish the fact that a competent authority does not comply or does not
intend to comply with that guideline or recommendation. EIOPA may also
decide, on a case-by-case basis, to publish the reasons provided by the
competent authority for not complying with that guideline or
recommendation.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
woensdag 14 mei 2014
EIOPA INTRODUCES A NEW FORMAT FOR ITS FINANCIAL STABILITY REPORT
The European Insurance and Occupational Pensions Authority (EIOPA) has
introduced its Financial Stability Report May 2014 in a new format. In
addition to the regular analysis and assessment of risks, the publication
now presents thematic articles aimed at deeper analysis of specific issues
or broader policy discussions. Furthermore, the report uses some new
analytical tools that are part of EIOPA's ongoing work to develop new
methodologies for financial stability assessment.
While the current European economic outlook is rather positive, the key
risks for the insurance companies and occupational pension funds remain:
vulnerable macroeconomic climate, low yield environment and credit risks
arising from the exposure to sovereigns and financial institutions.
Heavily indebted private and public sectors; high unemployment and market
fragmentation are the main sources of vulnerability. The prolonged low
interest rate environment remains a key risk in many countries. It has a
negative impact on the ability of insurers and pension funds to maintain
long-term profitability and stable financial profiles. As a consequence of
low interest rates insurers and pension funds are "searching for
yields" and, therefore, allocate their resources in riskier assets.
Attracted by higher profit margins, insurers continued to expand their
activities in China, South-East Asia, Latin America and some emerging
European countries and, thus, to increase their exposure to political,
legal and other risks on these markets.
In the insurance sector EIOPA observes a subdued growth in premiums.
According to EIOPA's projection, this trend will continue until at least
the end of 2015. As a result of low interest rates, life insurers are
lowering guarantees and focusing on unit-linked products. In the
medium-term it might be difficult for insurers to keep their
profitability, which still remains relatively robust.
Profitability of the global reinsurance sector is rather high. The demand
from investors for catastrophe bonds continues its upward trend and
reached its highest level ever.
Low rates put a significant pressure on the profitability of the European
occupational pensions sector. Structural budget deficits are forcing
governments to shift responsibility for pensions from the state to
individuals.
The first thematic article of the Report analyses the relationship between
written premiums' growth in the insurance sector and key macroeconomic
determinants on the bases of panel data covering 30 European countries.
The second article addresses the issue of Global Systemically Important
Insurers.
Click here (Link:
https://eiopa.europa.eu/publications/financial-stability/eiopa-financial-stability-reports/eiopa-financial-stability-report-may-2014/index.html
) to access the Financial Stability Report May 2014
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
introduced its Financial Stability Report May 2014 in a new format. In
addition to the regular analysis and assessment of risks, the publication
now presents thematic articles aimed at deeper analysis of specific issues
or broader policy discussions. Furthermore, the report uses some new
analytical tools that are part of EIOPA's ongoing work to develop new
methodologies for financial stability assessment.
While the current European economic outlook is rather positive, the key
risks for the insurance companies and occupational pension funds remain:
vulnerable macroeconomic climate, low yield environment and credit risks
arising from the exposure to sovereigns and financial institutions.
Heavily indebted private and public sectors; high unemployment and market
fragmentation are the main sources of vulnerability. The prolonged low
interest rate environment remains a key risk in many countries. It has a
negative impact on the ability of insurers and pension funds to maintain
long-term profitability and stable financial profiles. As a consequence of
low interest rates insurers and pension funds are "searching for
yields" and, therefore, allocate their resources in riskier assets.
Attracted by higher profit margins, insurers continued to expand their
activities in China, South-East Asia, Latin America and some emerging
European countries and, thus, to increase their exposure to political,
legal and other risks on these markets.
In the insurance sector EIOPA observes a subdued growth in premiums.
According to EIOPA's projection, this trend will continue until at least
the end of 2015. As a result of low interest rates, life insurers are
lowering guarantees and focusing on unit-linked products. In the
medium-term it might be difficult for insurers to keep their
profitability, which still remains relatively robust.
Profitability of the global reinsurance sector is rather high. The demand
from investors for catastrophe bonds continues its upward trend and
reached its highest level ever.
Low rates put a significant pressure on the profitability of the European
occupational pensions sector. Structural budget deficits are forcing
governments to shift responsibility for pensions from the state to
individuals.
The first thematic article of the Report analyses the relationship between
written premiums' growth in the insurance sector and key macroeconomic
determinants on the bases of panel data covering 30 European countries.
The second article addresses the issue of Global Systemically Important
Insurers.
Click here (Link:
https://eiopa.europa.eu/publications/financial-stability/eiopa-financial-stability-reports/eiopa-financial-stability-report-may-2014/index.html
) to access the Financial Stability Report May 2014
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
woensdag 30 april 2014
EIOPA launches EU-wide Insurance Stress Test
The European Insurance and Occupational Pensions Authority (EIOPA) launched
today an EU-wide stress test for the insurance sector.
The test package comprises two modules. The core module of the exercise
includes two adverse market scenarios, covering financial asset stresses
(sovereigns, corporate bonds and equities) as well, as shocks to real
estate assets prices' and interest rates stresses. The adverse market
scenarios are complemented by a set of independent insurance-specific
shocks covering mortality, longevity, insufficient reserves and
catastrophe shocks. The second module addresses the impact of a low yield
environment and is a follow-up to EIOPA's Opinion on Supervisory
Response to a Prolonged Low Interest Rate Environment. The adverse market
scenarios have been developed in cooperation with the European Systemic
Risk Board (ESRB).
It is envisaged that the stress test will cover at least 50% of the market
share in each country both of life and non-life segments. Its results will
provide a clear vision on the resilience of the insurance sector to
different shocks and identify issues that require further supervisory
response.
The technical basis of the stress test is the new insurance regulatory
regime Solvency II, which will apply as of 1 January 2016. Simultaneous
with the launch of the exercise, EIOPA publishes the Solvency II Technical
Specifications for the preparatory phase that will provide a ground for
undertakings to value assets and liabilities and to calculate
solvency/minimum capital requirements and own funds.
The exercise will be run in close cooperation with national supervisory
authorities (NSAs). The NSAs will collect data from undertakings in July
2014 and validate the information before it is aggregated at the EU level.
To improve consistency in the calculations, during August and September
2014, EIOPA in cooperation with NSAs will conduct an EU-wide validation of
the data received. Results of the stress test analysis will be disclosed
in November 2014.
To facilitate the participation of undertakings in the exercise EIOPA will
hold a workshop and will launch a Q&A tool to address queries raised by
participants when completing the test.
Click here (Link:
https://eiopa.europa.eu/activities/financial-stability/insurance-stress-test-2014/index.html
)to access the Insurance Stress Test 2014.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
today an EU-wide stress test for the insurance sector.
The test package comprises two modules. The core module of the exercise
includes two adverse market scenarios, covering financial asset stresses
(sovereigns, corporate bonds and equities) as well, as shocks to real
estate assets prices' and interest rates stresses. The adverse market
scenarios are complemented by a set of independent insurance-specific
shocks covering mortality, longevity, insufficient reserves and
catastrophe shocks. The second module addresses the impact of a low yield
environment and is a follow-up to EIOPA's Opinion on Supervisory
Response to a Prolonged Low Interest Rate Environment. The adverse market
scenarios have been developed in cooperation with the European Systemic
Risk Board (ESRB).
It is envisaged that the stress test will cover at least 50% of the market
share in each country both of life and non-life segments. Its results will
provide a clear vision on the resilience of the insurance sector to
different shocks and identify issues that require further supervisory
response.
The technical basis of the stress test is the new insurance regulatory
regime Solvency II, which will apply as of 1 January 2016. Simultaneous
with the launch of the exercise, EIOPA publishes the Solvency II Technical
Specifications for the preparatory phase that will provide a ground for
undertakings to value assets and liabilities and to calculate
solvency/minimum capital requirements and own funds.
The exercise will be run in close cooperation with national supervisory
authorities (NSAs). The NSAs will collect data from undertakings in July
2014 and validate the information before it is aggregated at the EU level.
To improve consistency in the calculations, during August and September
2014, EIOPA in cooperation with NSAs will conduct an EU-wide validation of
the data received. Results of the stress test analysis will be disclosed
in November 2014.
To facilitate the participation of undertakings in the exercise EIOPA will
hold a workshop and will launch a Q&A tool to address queries raised by
participants when completing the test.
Click here (Link:
https://eiopa.europa.eu/activities/financial-stability/insurance-stress-test-2014/index.html
)to access the Insurance Stress Test 2014.
This newsletter was sent to you by:
EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
---
Don't want to receive this newsletter anymore?
Please login to the Restricted Area of the EIOPA website and change
your user profile:
https://eiopa.europa.eu/restricted-area/index.html
If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.
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