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EIOPA publishes findings on Solvency II long-term guarantee

The European Insurance and Occupational Pensions Authority (EIOPA) has published
its technical findings on the long-term guarantee package, a set of
potential measures aimed at facilitating the provision of insurance products
with long-term guarantees under the new Solvency II insurance regulatory
regime.

EIOPA concluded that the final package to be included in the Solvency II framework
should fulfil a number of principles including:

  • alignment with the Solvency II framework and the economic balance sheet concept;
  • full consistency and comparability in order to enhance the single market;
  • efficient linking of all the three pillars (quantitative basis, qualitative requirements and enhanced reporting and disclosure);
  • proportionality and simplicity; and
  • adequate treatment of transitional issues.

Related Link:

https://eiopa.europa.eu/fileadmin/tx_dam/files/consultations/QIS/Preparatory_forthcoming_assessments/final/outcome/EIOPA_LTGA_Report_14_June_2013_01.pdf

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