On 1 October, the European Insurance and Occupational Pensions Authority (EIOPA) launched five consultations as part of the review of the Solvency II regulatory framework.

The consultations cover the following:

• The draft regulatory technical standards (RTS) setting out the contents for Liquidity Risk Management plans and the criteria for different entities.
• The draft RTS on exceptional sector-wide shocks, which provide criteria to supervisory authorities to identify such shocks. It allows supervisors to suspend dividend payments, share buybacks and bonuses by insurers.
• The draft RTS specifying factors for identifying insurance undertakings that are under dominant or significant influence, as well as those managed on a unified basis.
• The implementing technical setting out the scenarios for best-estimate valuations for life insurance obligations by small and non-complex undertakings.
• The draft RTS setting out the conditions and criteria to be considered by supervisors to enhance the supervision of cross-border activities.

EIOPA has requested feedback by 2 January 2025.

For more information, please contact Guillermo Pérez Molina, Private Credit Associate.