Reinsurance News
EIOPA
Insurance Europe urges greater clarity on EIOPA’s AI Opinion
21st May 2025
Insurance Europe supports the European Insurance and Occupational Pensions Authority (EIOPA)’s draft AI Opinion for providing clarity on applying existing insurance legislation to AI systems; however, it warns that the current draft may unintentionally introduce new requirements, lack proportionality, and create confusion due to overlapping regulations. While Insurance Europe agrees with ... Read the full article
FERMA supports EU proposal for nat cat reinsurance scheme
29th April 2025
FERMA has announced its support for a joint proposal by the European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) to establish a European public-private reinsurance scheme aimed at mitigating the impact of natural catastrophes. The proposal outlines a two-pillar EU-level solution designed to close the widening ... Read the full article
EIOPA stress test reveals EU insurers can withstand surging geopolitical risks
19th December 2024
The European Insurance and Occupational Pensions Authority (EIOPA) has published the results of a stress test, in which it assessed European insurers' ability to manage the economic and financial fallout from a resurgence of geopolitical tensions. According to EIOPA, the test subjected European insurers to an adverse scenario marked by an intensification ... Read the full article
ECB and EIOPA propose EU-level solution to mitigate impact of natural disasters
19th December 2024
The European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) have proposed an EU-level approach to reduce the economic impact of natural disasters, building on existing national and EU structures. The proposal consists of two complementary pillars. The first is an EU public-private reinsurance scheme aimed at ... Read the full article
EIOPA seeks feedback on awareness tool to address climate-related property risks
2nd December 2024
The European Insurance and Occupational Pensions Authority (EIOPA), which oversees the regulation and supervision of the insurance and pensions sectors in the European Union, is seeking feedback on its consultation paper regarding the creation of an awareness tool. This tool is intended to assist European citizens in understanding how vulnerable their ... Read the full article
VIG’s Liane Hirner re-elected to EIOPA’s IRSG
18th July 2024
Liane Hirner has been re-elected for another four-year term to the Insurance and Reinsurance Stakeholder Group (IRSG) of the European Insurance and Occupational Pensions Authority (EIOPA). Hirner is a member of the Managing Board of Directors and CFRO of Vienna Insurance Group (VIG). In her role at EIOPA, she will help develop ... Read the full article
Intensified regulatory scrutiny on EU life insurers potentially hitting profits: Moody’s
17th June 2024
Moody's, a credit rating agency, has released a report emphasising intensified regulatory scrutiny on European Union life insurers to ensure their products deliver "value for money," potentially impacting profitability and operational strategies, particularly for unit-linked and hybrid products. Since 2018, reports from the European Insurance and Occupational Pensions Authority (EIOPA) have ... Read the full article
EIOPA’s Hielkema discusses insurers’ vital role in climate change mitigation
23rd April 2024
At the IIF 2024 – ESG in Insurance Conference, Petra Hielkema, Chairperson of the European Insurance and Occupational Pensions Authority, emphasised insurers' pivotal role in combating climate change by educating society, factoring in risks, investing wisely, and promoting resilient behaviours among consumers. The frequency of natural disasters has tripled in the ... Read the full article
Insurance Europe shares “serious concerns’’ about EIOPA’s supervision of reinsurance plans
10th October 2023
Insurance Europe, the European re/insurance federation, has expressed “serious concerns’’ in its consultation response, about the European Insurance and Occupational Pensions Authority (EIOPA)’s supervision of reinsurance plans. These concerns are regarding the Authority’s draft Supervisory Statement (Statement) on the supervision of reinsurance concluded with third countries re/insurance undertakings. EIOPA announced the launch ... Read the full article
EIOPA lays down strategic priorities for 2024/26 with focus on managing uncertainty
10th October 2023
The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the period 2024-2026, highlighting its plans to “focus on managing the uncertainty in times of transformation so that the insurance and pensions sectors can continue to deliver value to policyholders and beneficiaries.” In a statement, the EIOPA ... Read the full article
EIOPA and ECB outline policy options to promote climate catastrophe insurance
24th April 2023
The European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) call for increased uptake of climate catastrophe insurance to limit the growing impact of natural disasters on the economy. In their recently published discussion paper they set out policy options on how to better insure households and ... Read the full article
Insurance Europe responds to EIOPA consultation paper on differential pricing
12th October 2022
Insurance Europe, the European insurance and reinsurance federation, have published their comments regarding a recent consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on differential pricing as concerns have been raised. In July 2022 EIOPA launched the three-month long public consultation in response to concerns that some differential pricing ... Read the full article
European insurers able to meet promises to customers: EIOPA
31st December 2021
The European Insurance and Occupational Pensions Authority (EIOPA) has conducted a stress test, results of which confirm the European insurance industry’s ability to meet promises to customers even under extreme 1 in 1000-year events. Olav Jones, deputy director general of Insurance Europe, noted that the results of this exercise clearly demonstrate ... Read the full article
EIOPA sees environmental risks as top concern for re/insurers
20th December 2021
A new report by the European Insurance and Occupational Pensions Authority (EIOPA) has identified environmental risks as among the most pressing concerns for the re/insurance and pension sectors. EIOPA said environmental risks are the top risk in terms of the highest expected increase in materiality for these sectors given that extreme ... Read the full article
EIOPA sets out its strategic priorities for 2022
7th October 2021
The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the coming year, with the goals of ensuring consumer protection and safeguarding financial stability. Activities take into account the ongoing effects of COVID-19, the market situation and political priorities, in particular supporting the digital and green recovery. The ... Read the full article
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