The CEIOPS member meeting was held in Frankfurt on 18 February. The meeting addressed a number of issues and draft documents for further development or publication after editorial refinement. The most important of these were the Solvency II project’s draft Advices to the European Commission on Proportionality, and on Aspects of the Framework Directive Proposal related to Insurance Groups.
CEIOPS’ Draft Advice on Proportionality addresses how to gear the new risk-based regime to the nature, scale and complexity of an insurer’s or reinsurer’s risks, including small and medium-sized undertakings. Appropriate treatment of all undertakings is to be achieved through the application of the proportionality principle. CEIOPS has proposed principles in its Advice under all three Pillars, also on aspects of internal models, and group supervision.
CEIOPS’ Draft Advice regarding Aspects of the Framework Directive Proposal related to Insurance Groups focuses on measures to facilitate their effective supervision.
Part I relates to the group support regime. Part II relates to the rights and duties of the Group Supervisor and colleges of supervisors.
CEIOPS has annexed the relevant Articles of the Framework Directive Proposal. After discussion and agreed amendments, the Meeting approved these for public consultation.
Press release
© CEIOPS
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