EIOPA: Opinion on the 2020 review of Solvency II
EIOPA has issued its Opinion on the Solvency II directive as a part of the process to review the directive.
The measures proposed aim at keeping the regime fit for purpose by introducing a balanced update of the regulatory framework, reflecting better the economic situation and completing the missing elements from the regulatory toolbox. From a prudential perspective, EIOPA is of the view that overall the Solvency II framework is working well and no fundamental changes are needed at this point in time, but a number of amendments are required to ensure that the regulatory framework continues as a well-functioning risk-based regime.
The Opinion is available on the beinsured portal.