EIOPA has launched two new consultations (here) in the context of Solvency II Review. In these consultations, EIOPA seeks alignment with the amended regulatory framework, while streamlining and simplifying the Guidelines, wherever possible, to reduce complexity for undertakings and supervisors.
Draft revised Guidelines on group solvency (here)
These Guidelines update the original 2015 text to reflect the amended Solvency II framework and further clarify solvency calculations. Provisions considered redundant, unclear, or inconsistent with the legal framework are proposed for deletion, resulting in a 63% reduction in the number of Guidelines.
Draft revised Guidelines on reporting and public disclosure (here)
Since 2015, these Guidelines have specified minimum content requirements for parts of the RSR and SFCR. Following the Solvency II review — including the introduction of a new SFCR structure — the Guidelines have been updated and significantly streamlined. Redundant or unclear provisions are proposed for deletion, leading to a 44% reduction in the number of Guidelines.
Responses prepared by Insurance Europe :