Insurance Europe aisbl - Rue Montoyer 51 B-1000 Brussels - Belgium
  • EU securities financing transactions proposals should be workable

    Insurance Europe has warned that certain aspects of the European Commission’s proposed Regulation on the reporting and transparency of securities financing transactions (SFTs) are unnecessarily burdensome for insurers. The EC proposal provides a set of measures aiming to enhance regulators’ and investors’ understanding of SFTs.
    Insurance Europe’s concerns relate primarily to the operational costs generated by some of these regulatory requirements, the timeline for reporting and the scope of the proposal.
    In order to minimise the costs of compliance, Insurance Europe recommends that any additional reporting requirements should be harmonised with those in the European Market Infrastructure Regulation (EMIR), the Markets in Financial Instruments Directive (MiFID) and the guidelines by the European Securities and Markets Authority (ESMA).

    13 Oct 2014
    Regulation & supervision
  • Concerns over Shareholders' Rights Directive proposals

    Insurance Europe has published a position paper to express its concerns regarding the European Commission’s proposed revisions to the Shareholders' Rights Directive.
    These concerns cover a range of areas including engagement policy, investment strategy of institutional investors and arrangements with asset managers, transparency of asset managers and related part transactions and remuneration policy. 

    10 Oct 2014
    Regulation & supervision
  • Providing insight: How to balance regulation and growth

    Providing insight: How to balance regulation and growth

    With many EU countries still recovering from the global financial crisis, the insurance industry remains a key component in promoting stability and economic growth, according to Insurance Europe’s latest publication.
    The federation has also today published an insight briefing called Insurers, regulation & stability, which examines the balancing act required to ensure appropriate regulatory scrutiny, while also providing a workable, competitive framework for insurers to maintain their role as long-term investors.

    07 Oct 2014
  • Concerns raised over proposed EU data protection rules

    Insurance Europe has raised concerns over the proposed data protection rules that could make it difficult for insurers to continue provide the insurance services consumers expect, and to fight fraud and tax evasion effectively.
    These concerns were outlined in comments on the consolidated text of the EC’s proposal for a general Data Protection Regulation provided by the Greek EU Presidency.

    19 Sep 2014
    EU Single market & consumer protection
  • Risk-based priced insurance offers best customer value

    “It is to the benefit of consumers that insurers remain able to price insurance policies according to the risk presented by each policyholder”, according to William Vidonja, head of the Single Market & Social Affairs department at Insurance Europe.

    Vidonja made his comments at the European Commission Gender Forum taking place on Wednesday 10 September, during which the implementation of the 2004 Gender Equality Directive and Test-Achats Ruling by the European Court of Justice were discussed.

    To see his slides click here.

    12 Sep 2014
    EU Single market & consumer protection
  • Insurers’ investments grew in 2013 but future investment threatened

    Insurers’ investments in the European economy continued to grow during 2013. Concerns remain, however, about how the Solvency II Directive will affect their ability to continue as Europe’s largest long-term stable investors, according to Insurance Europe.

    As of 31 December 2013, the European insurance industry had over €8.5 trillion of assets under management, representing a 3.2% growth at constant exchange rates compared with 2012, according to the federation’s annual key facts booklet.
    Read more
    01 Sep 2014
  • Existing ICPs sufficiently combat bribery and corruption

    In its response to the recent IAIS draft issues paper on bribery and corruption, Insurance Europe has advocated the view taken by the IAIS that existing insurance core principles (ICP) relevant to combating bribery and corruption are sufficient, and that there is no need for a separate ICP on bribery and corruption.

    Insurance Europe has consistently advocated that a risk-based approach is the right way to address financial crime risks, including bribery and corruption. This approach allows insurers to allocate their resources in the most effective way to address identified risks in the right order and with the most appropriate response.
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    14 Aug 2014