Ceiops: risk-oriented approach to Solvency II needed
EU Level 3 committee says it must play a central role in the development of Solvency II
FRANKFURT – In light of the current economic turmoil, the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) has reiterated the importance of a having a risk-orientated approach towards Solvency II – the planned European Union capital requirements directive for insurers.
Ceiops has confirmed it, “without considering amendments to the architecture of Solvency II”, will start “reflecting on lessons to be learned for the proposed regime, with a view to any strengthening of the focus on financial stability, and any further convergence as a Level 3 Committee in the Lamfalussy process”.
The degree of future convergence through the Lamfalussy process remains unknown, but Ceiops is keen to stress an increasingly central role for itself in the Solvency II process. Ceiops also underlined the importance of a flexible approach suited to market conditions “in normal as well as in crisis times”.
Ceiops is keen to avoid disturbing the approval process of the Level 1 directive, and duplication of existing work by it and other bodies, so will it centrally co-ordinate its review work and will focus on lessons to be learned and Level 2 implementing measures.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Risk management
Cyber insurance premiums dropped unexpectedly in 2025
Competition among carriers drives down premiums, despite increasing frequency and severity of attacks
Op risk data: Kaiser will helm half-billion-dollar payout for faking illness
Also: Loan collusion clobbers South Korean banks; AML fails at Saxo Bank and Santander. Data by ORX News
Market doesn’t share FSB concerns over basis trade
Industry warns tougher haircut regulation could restrict market capacity as debt issuance rises
CGB repo clearing is coming to Hong Kong … but not yet
Market wants at least five years to build infrastructure before regulators consider mandate
Rethinking model validation for GenAI governance
A US model risk leader outlines how banks can recalibrate existing supervisory standards
FCMs warn of regulatory gaps in crypto clearing
CFTC request for comment uncovers concerns over customer protection and unchecked advertising
UK clearing houses face tougher capital regime than EU peers
Ice resists BoE plan to move second skin in the game higher up capital stack, but members approve
The changing shape of variation margin collateral
Financial firms are open to using a wider variety of collateral when posting VM on uncleared derivatives, but concerns are slowing efforts to use more non-cash alternatives