14 November 2007

CEIOPS papers on functioning of supervisory networks for insurance group supervision

CEIOPS published its Guidelines on information exchange between lead supervisors and other competent authorities within coordination committees and its Report on the functioning of the coordination committees.

The Guidelines define a common list of items of information that are essential to be exchanged within each supervisory network. CEIOPS seeks to evolve one commonly-agreed Risk Assessment System for insurance groups. Before the introduction of Solvency II, CEIOPS will examine the possibilities of feasible improvements in supervisory requirements and practices in reporting intra-group transactions.

The Report underlines substantial improvement since 2004. The contacts between

Coordination Committee Members have been intensified, many more Coordination

Committee meetings have been held, the contacts on a day-to-day basis have increased and supervisors in different Member States have arranged several and diverse joint activities, both off-site and on-site.

Press release

Report on the Functioning of the Coordination Committees

Guidelines on Information Exchange

© Graham Bishop