Some recommendations may have a significant impact, for instance the new methodology with respect to the required capital calculation for interest rate
risk. We discuss EIOPA’s proposals and analyse the possible impact on European insurance companies. All advice has been sent to the European
Commission at the end of February 2018 and implementation is possible by 1 January 2019 at the earliest.
TIMELINE
The Solvency II Directive was adopted in 2009 and amended on 16 April 2014 in the so-called ‘Omnibus II Directive’. On 10 October 2014, the European Commission adopted the implementing rules for Solvency II. On 20 September 2015, the European Commission amended this regulation, in particular the capital requirements for different categories of assets. All of these texts entered into force on 1 January 2016.
After a consultation phase during 2017, EIOPA published a first set of advice on 30 October 2017. A second, very comprehensive, set of advice was published on 28 February 2018.1 All advice has been sent to the European Commission at the end of February 2018. Implementation is possible by 1 January 2019 at the earliest.
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- Towards an amendment to Solvency II? .pdf • 0,25 MB
