Solvency 2 review: latest developments

The Solvency 2 Directive, which was adopted in 2009 and came into force in 2016, created a new prudential risk supervision regime for insurance undertakings with its three pillars relating to capital coverage (MCR, SCR), risk governance and market discipline.

The review of the Directive started in 2020 led the Commission to make new proposals last September on improving risk sensitivity and volatility, and introducing new rules on proportionality and disclosure. Negotiations are underway in the Council under the French Presidency, with a text expected soon.

However, there has been little progress on the regulation of long-term equity investments and the asymmetry of prudential and accounting horizons. Further progress is expected in this area before the trialogue scheduled for 2023.

To discuss this ongoing review and the latest developments, the insurance supervisor ACPR, the consulting firm EY Financial Services, the insurance company COVEA and the fintech AI for Alpha will be present.

The event is in French.

 

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