Grant Thornton Ireland’s Post

The European Insurance and Occupational Pensions Authority (EIOPA) has opened a consultation regarding the criteria based on which national supervisors may request (re)insurers and insurance groups to perform macroprudential analysis in their Own Risk and Solvency Assessments (ORSA) and in their application of the Prudent Person Principle (PPP). The Consultation Paper proposes both quantitative and risk-based criteria to determine which undertakings and groups should consider macroprudential elements in their ORSA and in how they apply the PPP. The quantitative criterion foresees a threshold of €12 billion in total assets, which aligns with the criteria used in identifying undertakings for financial stability reporting. #insurance #solvencyii #sii #ORSA #PPP #consultation https://lnkd.in/eiip724h

The European Insurance and Occupational Pensions Authority (EIOPA) launched a public consultation on the future implementation of the new proportionality framework under Solvency II. The consultation covers two aspects, namely, the fine-tuning of the methodology for classifying insurance undertakings as small and non-complex – who would stand to benefit from proportionality measures – as well as the conditions for granting similar proportionality measures (i.e. certain reduced requirements) to insurers that do not by default fall in the small and non-complex category. #solvencyii #sii #eiopa #insurance #proportionality https://lnkd.in/etcnXtzY

On July 2, the European Insurance and Occupational Pensions Authority (EIOPA), in accordance with Article 29, paragraph 1, letter a) of Regulation (EU) 1094/2010, published an opinion on captive insurers con its website, with particular attention to intragroup operations and the application of the “prudent person principle”. The document is addressed to the competent supervisory authorities to contribute to the convergence of supervisory expectations within the EU, and aims to facilitate the proportionate and risk-based supervision of captive insurance undertakings, hence undertakings held by the parent company to insure its own risks while benefiting from reduced costs (Art. 13, paragraph 2 and 5 of the Solvency II-Directive). In the opinion, EIOPA lines out multiple supervisory expectations in various areas, specifying, for example, that supervisory authorities should, inter alia, (i) ensure that the classification of activities as lending or otherwise is not arbitrary, and also (ii) guarantee that captive insurance undertakings comply with the prudent person principle by assessing the portfolio as a whole considering various parameters such as liquidity and availability. Info: Giovanna Aucone #insurance #EIOPA #regulation https://lnkd.in/d6wRcRDS

The European Insurance and Occupational Pensions Authority (EIOPA) has published the results of a stress test, which assessed European insurers’ ability to manage the economic and financial fallout from a resurgence of geopolitical tensions.

  Questions that EIOPA should answer. The European Insurance and Occupational Pensions Agency (EIOPA) describes itself as being “at the heart of insurance and occupational pensions supervision in the EU” It describes its aim as being  “ to foster financial stability and confidence in the insurance and pensions market.” EIOPA spectacularly failed to foster either stability or confidence in the way in which it dealt with the Euroins Romania case. The Authority has many questions to answer about how it dealt with this case and about the veil of secrecy that it has sought to draw about the case. https://lnkd.in/eEdKyJRJ

📋 **EIOPA Annual Report 2023** 📋 The **European Insurance and Occupational Pensions Authority (EIOPA)** published its **annual report** on **Friday, June 14**, detailing its achievements over the past year. Despite challenges posed by geopolitical conflicts, high-interest rates, inflation, and market volatility, EIOPA met its objectives in line with its overall strategy. Here are some of EIOPA's key accomplishments: 1. **Strengthening consumer protection** 🛡️ 2. **Enhanced supervision of insurance and occupational pensions** 📊 3. **Improving financial resilience in times of crisis** 🌐 🔗 **For more details:** [EIOPA publishes its Annual Report](https://lnkd.in/eks4rCuY) 🌍 **#EIOPA #AnnualReport #Insurance #OccupationalPensions #Regulation #FinancialStability** 🌍

The growing use of innovative “funded” or “asset-intensive” reinsurance structures by life insurance companies has attracted regulatory attention, particularly in light of the expanding pension de-risking market. #Pensions #Regulation #PRT

Stay informed and stay ahead with Broadstone's latest Employer Briefing! 📣 Stuart Bradbury and David Pye cover off the latest trends and actionable insights on DB schemes, end-game strategies and pension policy movements. Catch the link to the full briefing note below👇 #BusinessInsights #EmployerBriefing #DBTrends #RegulatoryUpdates #Broadstone

M&G plc has launched a Value Share Bulk Purchase Annuity proposition by completing a £500 million transaction with a private Corporate Sponsor and its UK Pension Scheme, insuring around 3,200 pensioner and deferred members.

Did you know you can leave pretty much anything to someone in your will? From false teeth to a beer can, anything goes! And it doesn't matter where you are in the world; people still have trouble locating assets such as workplace pensions from previous jobs and life insurance policies. That's why keeping a record using Leighan's List is essential. Find out more in this article ➡️ https://buff.ly/3RPfnMA #leighanslist #estateplanning #wills #probate #financialplanning #powerofattorney #trusts #estateplan #estate #familylaw #livingwill #family #livingtrust #will #personalfinance