On 17 November 2025, EIOPA submitted two sets of draft Regulatory Technical Standards (RTS) (here) to the European Commission related to the new macroprudential tools introduced in the Solvency II framework following its recent review.
The package includes:
- RTS on Liquidity Risk Management Plans (LRMPs)
- RTS on macroprudential analyses to be integrated into the ORSA and prudent person principle (PPP)
Key points
- The RTS detail which (re)insurers and groups must perform medium and long-term liquidity analyses as part of their LRMPs, in addition to short-term liquidity assessments.
- Selection criteria combine a €20bn threshold with supervisory discretion (opt-in / opt-out) based on risk profile.
- LRMPs must be updated at least annually or following material changes in risk profile or external conditions.
- Macroprudential analyses must be integrated into ORSA and PPP assessments, and will be analysed in aggregate by supervisors.
- The European Commission will now review the RTS and decide on their adoption within three months.
The Secretariat of Insurance Europe will prepare an assessment of the RTS against the industry response submitted during the consultation in due course.