EIOPA published an Opinion on the disclosure of individual results in the context of insurance stress tests.
EIOPA conducts Union-wide stress test exercises to assess the resilience of the European insurance industry and has until now communicated the results based on aggregated data.
Over the past years, EIOPA has sought to further improve the transparency of the exercise through the publication of individual results and engaged with stakeholders on the matter.
Despite the steps taken by EIOPA to address the industry’s concerns regarding individual disclosures, such as by requesting only a subset of balance sheet indicators to be published, the majority of (re)insurers continue to show reluctance.
EIOPA therefore considers that a change in the legal framework allowing EIOPA to disclose the results of individual undertakings is the only way to obtain the disclosure of individual information.
The ongoing review of Solvency II with a targeted amendment would provide a straightforward solution.
For more information, please see here.
Insurance Europe