European News

GDPR comes into force

25 May 2018

Coming into force on 25 May 2018, the EU General Data Protection Regulation (GDPR) harmonises data privacy laws across Europe. It protects Europeans, gives them control over their personal data and reshapes the way organisations approach data privacy. An overview can be found here.

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European Court of Auditors publishes paper on EIOPA

8 March 2018

The European Court of Auditors today published a background paper on the European Insurance and Occupational Pensions Authority’s (EIOPA) contribution to the supervision of and financial stability in the EU’s insurance sector. The report can be downloaded here.

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EIOPA launches selection procedure for members of its Stakeholder Groups

2 March 2018

The European Insurance and Occupational Pensions Authority (EIOPA) is launching today a call for expression of interest to select new members of the Insurance and Reinsurance Stakeholder Group (IRSG) and the Occupational Pensions Stakeholder Group (OPSG).

The Stakeholder Groups (SHGs) are set up according to Article 37 of the EIOPA Regulation1, to facilitate consultation with stakeholders in areas relevant to the tasks of EIOPA. Members serve for a period of 2.5 years with the possibility to renew their mandate once. More information on the activities of the SHGs is available on the EIOPA website.

Each group comprises 30 members. Members are appointed to represent, in balanced proportions, the following groups:

• For both Stakeholder Groups: representatives of

    • Employees
    • Independent top-ranking academics
    • Relevant professional associations
    • Small and Medium Enterprises (SMEs)

• For IRSG: representatives of

    • Consumers
    • Users of insurance and reinsurance services
    • Insurance and reinsurance undertakings and intermediaries operating in the Union

• For OPSG: representatives of

    • Beneficiaries
    • IORPs – Institutions for occupational retirement provision operating in the Union

The Stakeholder Groups meet separately at least four times a year in Frankfurt, Germany. In addition, there is one joint meeting per year, organised with EIOPA’s Board of Supervisors.

EIOPA covers accommodation and travel costs for the following categories: consumers, academics, beneficiaries, employee representatives and users of insurance and reinsurance services.

EIOPA expects to complete the selection process by July 2018. The first meeting in the new composition is foreseen for 19 September 2018 (IRSG) and 17 October 2018 (OPSG).

Detailed information regarding the call (in all languages) and the application form (in English only) can be found here: http://bit.ly/1KA5nQy

EIOPA strives to ensure appropriate geographical and gender balance in its Stakeholder Groups.

The deadline for application is 26 April 2018.

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EIOPA recommends further simplifications to the calculation of insurers’ capital requirements

1 March 2018

Today, the European Insurance and Occupational Pensions Authority (EIOPA) submitted its second and final set of Advice to the European Commission. More information in the  press release.

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EIOPA publishes a new set of Solvency II statistics

13 February 2018

Today, EIOPA published a new set of statistical information on the European insurance sector based on Solvency II regulatory reporting.

This set continues the series of quarterly statistics on solo undertakings launched on 28 June 2017. It contains country breakdowns and distributions of key variables based on reporting from solo insurance and reinsurance undertakings for the second quarter of 2017.

The statistics can be accessed via EIOPA’s website.

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