EIOPA has launched an information request running until 15 June inviting EEA insurers and reinsurers subject to Solvency II to provide information on:
Impact of the symmetric adjustment mechanism to the equity risk charge on the financial position of undertakings
Impact of the extrapolation of risk-free interest rates on the financial position of undertakings
Losses due to bond defaults and downgrades of bonds in matching adjustment portfolios
Feedback should be submitted to national supervisors, who will report back to EIOPA by 16 July. It will be used as part of the 2017 edition of EIOPA’s report on the long-term guarantee measures and measures on equity risk.
These measures must be reviewed by 1 January 2021. As part of this exercise, EIOPA will submit an opinion to the EC in 2020. Afterwards, the EC will submit its own report to the EP and Council.
Next steps
15 June 2017 Deadline for undertakings to submit information to their National supervisors
16 July 2017 Deadline for national supervisors to submit information to EIOPA
December 2017 (tbc) EIOPA publishes the 2017 report on LTG measures and measures on equity risk
2020 EIOPA submits an opinion to the EC on the review of the LTG measures and measures on equity risk
2021 EC adopts a report on the review of the LTG measures and measures on equity risk