Solvency II review: for a sustainable and competitive european economy
In December 2020, the European insurance supervisor (EIOPA) has submitted to the European Commission its Opinion on the ongoing Solvency II 2020 Review. The French Insurance Federation (FFA) believes that many proposals from EIOPA appear disputable not only in terms of efficiency, but also in terms of need and impact.
Considering today’s challenges that Europe is facing, FFA believes that the review of Solvency II is the opportunity to go further in promoting a sustainable and competitive European economy. FFA’s proposals make the insuance sector a key driver of the recovery and green transition.
This review fully contributes to the following objectives:
1 - Strengthening insurers’ ability to contribute to sustainable economic growth for innovation and employment, in line with the European objectives of the Capital Markets Union and the economic recovery.
2 - Enabling insurers to provide consumers with a diversified and affordable choice of long-term insurance products to address the challenge of
3 - Preserving the competitiveness of the European insurance sector to ensure Europe’s attractiveness and the proper functioning of the internal market.
All these proposals are detailed in the download document.