EIOPA’s wide-ranging review of Solvency II sets its sights on improved regulatory oversight of long-term business.
In its recently published consultation paper, the EIOPA has outlined its technical advice for the review of the Solvency II Directive. We consider how companies are most likely to be affected by the proposed changes and encourage companies to start thinking about potential impacts from a strategic perspective – particularly considering the extent of “Solvency II optimisation” we have seen to date within the insurance industry.
EIOPA aims to publish its final advice in the middle of 2020, with a European Commission review and recommendation expected by the end of 2020.