The European Insurance and Occupational Pensions Authority (EIOPA) published on Thursday 21 April its final report on the public consultation on the revision of the guidelines on the valuation of technical provisions, launched as part of the 2020 review of Solvency II, the European regulatory reform for the insurance world.
As with the final report of the public consultation on the revision of the contract limits directives, respondents are national and European trade, insurance or actuarial associations, consultants, lawyers or insurance and reinsurance companies. Their comments focused on entry into force, the application of the proportionality principle, the inclusion of investment management fees, the inclusion of new business in the setting of future management actions and the role of the actuarial function in the validation of EPIFPs (Expected Profits In Future Premiums).
The new and amended guidelines will apply from 1 January 2023, unless the competent national authorities decide otherwise.
Read the report: https://aeur.eu/f/1bl (Original version in French by Anne Damiani)