European Insurance and Occupational Pensions Authority (EIOPA)

📢 𝗡𝗲𝘄 𝗴𝘂𝗶𝗱𝗮𝗻𝗰𝗲 𝘁𝗼 𝘀𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗼𝗿𝘀 𝗼𝗻 𝗳𝗼𝗿𝗲𝘀𝗲𝗲𝗮𝗯𝗹𝗲 𝗱𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀! 📢 #EIOPA has published a Supervisory Statement providing guidance to supervisory authorities on the oversight of insurers' deduction of foreseeable #dividends from their own funds under Solvency II. 🏷️ 𝗧𝗵𝗲 𝗴𝗼𝗮𝗹? 🧐 Greater supervisory #convergence and a consistent approach across the sector. ✅ 🔹 EIOPA expects supervisors not to prioritise supervisory action in case undertakings are using the quarterly accrued approach. 🔹 When operating in a stable and predictable environment, the annual full deduction approach remains feasible. 🔹 Dividend deduction following its approval is considered to be a viable option only if objective difficulties are hindering the estimation of foreseeable dividends. To find out more, read our supervisory statement 🔽 https://europa.eu/!TRD33T #EUfinance #supervision #insurance #dividend #insurance #insurers #reinsurers #finance

It was a pleasure to join you! Great organisation, excellent discussions, wonderful event 🙏

EIOPA took part today in the scrutiny debate on Solvency II Review and the Insurance Recovery and Resolution Directive (IRRD) held by the European Parliament’s Committee on Economic and Monetary Affairs (ECON).   🔵 On Solvency II, Patrick Hoedjes, Head of Policy and Supervisory Convergence Department, explained the different areas EIOPA is currently working on, namely: • Developing the new technical standards, guidelines and reports that were included in the amending Directive • Revising the existing technical standards and guidelines to ensure they are up to date • Giving technical advice on the Delegated Regulation of Solvency II   🔵 On IRRD, Dimitris Zafeiris, Head of Risk and Financial Stability Department, explained what EIOPA is putting in place to deliver the required guidelines and technical standards on time, following three key principles: ✔️ simplicity ✔️ proportionality ✔️ minimising the regulatory burden.   They underlined that EIOPA is taking into account the new political priorities of the EU, including the competitiveness objective, while stressing the need for further improvements on supervisory enforcement and the need for Insurance Guarantee Schemes.   📹 The recording of the debate is available on the European Parliament's website 👇 https://lnkd.in/e-4ArViV

🤝 EIOPA's new Consultative Expert Group on Data Use in Insurance is now official! The group is made of 26 highly qualified experts who will work for one year on data sharing and on its implications for the insurance sector. Their work will support EIOPA address emerging challenges and opportunities in the context of digitalisation. We wish experts a warm welcome and success in their future work! https://lnkd.in/edBshAF3

The implementation of the EU's Digital Operational Resilience Act (#DORA) is well underway. 🚙💨 European supervisors have now set out a roadmap outlining the next steps to designate third-party #ICT service providers as critical and start overseeing them later this year. 🔍 Here is the timeline: 1️⃣ collection of the Registers of Information (#RoI) – by April 30 (#RoI) 2️⃣ performing criticality #assessments – by end of July 3️⃣ hearing period for objections – until the first half of September 🍀 final #designation and oversight engagement – towards the end of 2025 By ensuring effective oversight of critical third-party ICT service providers (#CTTPs), DORA will help financial entities better manage ICT risks and maintain operational resilience against cyber threats, service disruptions and technical failures. Click here to learn more about the roadmap 🔽 https://europa.eu/!DGwvFW For more info on reporting the Registers of Information 🔽 https://europa.eu/!wxK7Hg - with the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) 🤝 #EUfinance #EIOPA #insurance #pensionfunds #pension #digitalisation #digitalfinance #finance #supervision #oversight

🚨 Update alert! 🚨 The European Supervisory Authorities (#ESAs) have just updated the #FAQs to help financial entities prepare for #DORA’s register of information reporting. 📊 This latest update covers: ✅ Insights from the 2024 Dry Run ✅ Key details on 2025 reporting requirements ✅ Technical aspects of reporting to the ESAs ✅ Use of identifiers ✅ General aspects of populating and maintaining the registers of information ✅ Answers to the questions received from the competent authorities and financial entities including from the December 2024 workshop ℹ️ These answers should help financial entities finalise their registers of information. The registers of information are instrumental for the designation of the critical ICT third-party service providers (CTPPs) that will be subject to the oversight by the ESAs. 💡 Need guidance? Check out the full FAQ & resources here: 🔗 https://europa.eu/!wxK7Hg #DORA #EUfinance #ICT #CTPPs #operationalresilience #digitalisation #insurance #information #supervision #EIOPA #resilience #finance

⏰IRRD event! We are hosting our fifth event on the Insurance Recovery and Resolution Directive (IRRD) focusing on reporting requirements. 🌐 This online webinar will take place Friday 21 February, from 11:00 to 12:00 CET. Register now 👉 https://europa.eu/!ynJg9x

💡 Europeans are increasingly using digital tools to access insurance and pension information, according to EIOPA’s latest Eurobarometer survey. Consumers use various channels to communicate about their pension benefits such as: 🔹in-person communication - 43% 🔹 paper-based communication - 14% 🔹 by email - 44% 🔹 smartphone applications - 18% Increased digitalisation streamlines processes, enhances consumer awareness, and facilitates greater product uptake and smoother interaction between consumers and providers. However, there are also risks. The risk of exclusion is particularly relevant for older or lower-income consumers, or those lacking digital literacy, with 43% of EU consumers reporting a preference for receiving information in person rather than online. 👉 Find out more about the findings of the Eurobarometer survey, including a view for each European country https://lnkd.in/e239e8-R

50 years ago, on 10 February 1975 🗓️, the Council of the EU adopted a benchmark law on the principle of equal pay for men and women. Women who discover that they are being paid less than men for the same work or work of equal value have the right to take legal action against pay discrimination! #paygap #paytransparency #equalpay #paydiscrimination Learn more: https://europa.eu/!TXQhFm

🗨️ Have your say! EIOPA is seeking feedback on its Opinion on Artificial Intelligence governance and risk management. The Opinion aims to provide supervisors and insurance undertakings guidance on how to interpret and implement insurance sector provisions regarding the use of AI systems in insurance. 📅 Submit your comments 12 May 2025. 💡 To learn more about this consultation, you can join EIOPA's webinar on 8 April from 13:00-15:30 pm. More 👉 https://lnkd.in/eJwqy3vf