Brussels, 22/08/2022 (Agence Europe) – On Monday 1 August the European Insurance and Occupational Pensions Authority (EIOPA) launched a public consultation on a draft supervisory statement on the use of governance arrangements in third countries. EIOPA wishes to enhance the supervision and monitoring of insurance undertakings’ and intermediaries’ compliance with relevant EU legislation concerning governance arrangements in these third countries. EIOPA had previously stressed the need for insurance undertakings to demonstrate an appropriate level of corporate substance. Governance arrangements raise concerns when they are used to conduct certain regulated functions and activities for undertakings and intermediaries that ultimately serve policyholders in the European Economic Area (EEA). The consultation is open until Monday 31 October. For more information: https://aeur.eu/f/2rx (AD)