Ceiops sets up task force to focus on variable annuities

The Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) has established a task force to draft guidelines for the supervision of variable annuities (VAs), following concern among regulators at the high concentration of this product line in Ireland, according to the task force’s chair.

Fausto Parente, head of the international department at Isvap, the Italian insurance regulator, in addition to his duties with Ceiops, said that while there was no intention to halt VA