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Document 52021PC0581
Review of measures on taking up and pursuit of the insurance and reinsurance business (Solvency II)
Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2009/138/EC as regards proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks, group and cross-border supervision
- Initiative summary:
- The Commission will carry out a review of some elements of the Solvency II Directive (2009/138/EC). The Directive lists several issues that must be reviewed, such as long-term guarantee measures, the solvency capital requirement, or the minimum capital requirement. Given the experience acquired with the application of Solvency II, it is now time to assess whether some of its measures remain fit for purpose. The Commission will also assess the opportunity to include other elements in the review.
- EuroVoc thesaurus:
- financial services; right of establishment; risk management; principle of proportionality; financial supervision; financial solvency; reinsurance; financial requirements; insurance company; financial risk; insurance law; company in difficulties; aid to undertakings
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- Documents:
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Ares(2021)844869 (Factual summary report of the public consultation)
Ares(2020)3437326 (Inception impact assessment) - Leading service:
- Directorate-General for Financial Stability, Financial Services and Capital Markets Union
- Planned adoption period:
- 01/07/2021 - 30/09/2021
- Check the status of this initiative on the Better Regulation Portal
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- Consultation type:
- Public consultation
- Consultation duration (weeks):
- 16
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- Consultation type:
- Stakeholder feedback
- Consultation duration (weeks):
- 4
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- Consultation type:
- Stakeholder feedback
- Consultation duration (weeks):
- 4
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- Documents:
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COM/2021/581 final (Proposal for a directive)
SWD/2021/260 final (Impact assessment)
SWD/2021/261 final (Summary of impact assessment) - Leading service:
- Directorate-General for Financial Stability, Financial Services and Capital Markets Union
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- Consultation type:
- Stakeholder feedback
- Consultation duration (weeks):
- 8