EAA Web Session ‘Commission’s Request to an Adapted Framework’

Solvency II-Review was initiated in February 2019 with Commission’s request for technical advice to EIOPA. This advice constituted the basis for Commission’s proposal for an amendment of the SII-framework and the proposal to deal with recovery and resolution in a separate Directive. Council and later Parliament proposed numerous amendments to these proposals. These have been discussed by the trialogue parties since September 2023. The agreement achieved in December 2023 on the reform of the framework was an important milestone.

This agreement paves the way for the adaptation of the Solvency II-framework and for the introduction of the new Insurance Recovery and Resolution Directive (IRRD).

Some relevant details of previously discussed issues are shifted to Delegated Regulation or Technical Standards and are not finalised. The Commission’s empowerments together with EIOPA’s previous technical advice allow already by now a first assessment of the outcome.

This web session will deal with the following topics:

1. a) Proposed amendments of the SII-Directive
2. b) Expected amendments of Delegated Regulation and Technical Standards
3. c) Fundamental components of the IRRD

The goal of this web session is to provide an overview of the status of the SII-review and to assess the possible implications for actuaries and undertakings. Aspects of the IRRD and the interrelation between IRRD and Solvency II will be discussed. Commission is empowered to lay down technical details in Delegated Regulation or Technical Standards to complete the prudential framework. Actuarial topics which might be tackled in this process will be discussed as well.

Anmeldeschluss: 2024-03-19