What 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 cross-border supervision requires
This directive amends Solvency II (2009/138/EC) to refine capital requirements and risk management for EU insurers, notably by recalibrating the Volatility Adjustment (VA) to better absorb market shocks (Amending Article 77d) and introducing a more robust proportionality framework to reduce the burden on low-risk undertakings (Amending Article 29). It also mandates the integration of sustainability and macro-prudential risks into governance and investment strategies.
Pillar: Banking & Global Finance · Authority: European Parliament and Council of the European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52021PC0581
SHA-256 integrity: d4e4f9fd99f730472aeb3468c3a486003584baf9d41484c1e86136c7d87299af
Primary Citations — 7 traced to source
- Proposal for a Directive amending Directive 2009/138/EC (COM/2021/581 final), Article 1, point (18), amending Article 29 'Proportionality principle'
- Proposal for a Directive amending Directive 2009/138/EC (COM/2021/581 final), Article 1, point (30), amending Article 45 'Own risk and solvency assessment'
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