Colleges of supervisors in most countries have developed in line with targets.
In its Year-end Report on Functioning of Colleges and Accomplishments of the Action Plan 2014, the European Insurance and Occupational Pensions Authority (EIOPA) concludes that:
In most countries Colleges have developed in line with targets regarding information exchange, risk assessment, development of emergency plans and coordination arrangements. The implementation of the Solvency II preparatory guidelines will require significant further attention both from national supervisors and insurance groups.
EIOPA concludes further that ambitious group supervision and Colleges require proper resourcing. EIOPA will focus its support to Colleges in order to ensure the consistency of supervisory practices within Solvency II. Looking at the Action Plan 2014 it shows that although a lot of progress has been made, a minority of the 92 colleges are on track on all tasks.
EIOPA staff will keep on working closely, in both an informal and a formal way, with group supervisors and individual supervisory authorities to improve the status and quality of the Colleges work.
Press release
Full year-end report 2014
Annex 1: Accomplishment of EIOPA Action plan 2014 criteria
© EIOPA
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