Amendments to the Solvency II Directive

Official name

European Parliament legislative resolution of 23 April 2024 on the proposal for a directive of the European Parliament and of the Council amending Directive 2009/138/EC as regards proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks, group and crossborder supervision (COM(2021)0581 – C9-0367/2021 – 2021/0295(COD))

Type

Directive

Level 1

Initiator

EU

Submitted

22.09.2021

Doc. code

COM(2021)0581 – C9-0367/2021 – 2021/0295(COD)

Summary

Status

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Current version

Text adopted by European Parliament

10.09.2024

Next step

Entry into force

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Application date

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Scope

Level 1

Taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (binding, Main version, EU)

Level 2

RTS on liquidity risk management plans (binding, Supplement, EU)

RTS on factors for determining companies under dominant influence (non-binding, Supplement, EU)

ITS for determining the methodology for the valuation of lifetime obligations with options and guarantees (binding, Supplement, EU)

RTS on enhancing the supervision of cross-border activities (non-binding, Supplement, EU)

RTS to specify the criteria for the identification of exceptional sector-wide shocks (non-binding, Supplement, EU)

RTS on applicability criteria for macroprudential analysis (binding, Supplement, EU)

Level 3 / Other

Opinion Solvency II Review 2020 (non-binding, EU)

2023/2024 (re)assessment of natural catastrophe risk in the standard formula (non-binding, EU)

Technical advice on the implementation of the new proportionality framework under Solvency II (non-binding, EU)