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CBI Publishes its Supervisory Priorities for 2026
The Central Bank of Ireland (CBI) has published its Regulatory & Supervisory Outlook for 2026. Specific areas of focus for the (re)insurance sector include:
For insurance intermediaries, the CBI also intends to focus on operational and cyber resilience (including the implementation of the Digital Operational Resilience Act) as well as treatment of customers (e.g. implementation of the revised Consumer Protection Code). It will also focus on commission / remuneration arrangements in the sale of products and services via intermediaries through the lens of securing customers interests.
EIOPA Publishes Six Reports to Implement the IRRD
The European Insurance and Occupational Pensions Authority (EIOPA) has published three reports on the Draft Regulatory Technical Standards (RTS) and an additional three reports on the Guidelines to apply key provisions of the Insurance Recovery and Resolution Directive (IRRD):
EIOPA Issues Opinion regarding EFRAG’s Draft Revised ESRS
The European Commission (EC) has requested EIOPA to issue an opinion on the Draft revised European Sustainability Reporting Standards (ESRS) from the lens of the (re)insurance and occupational pensions sectors. In its assessment, EIOPA considered the compatibility of the proposed amendments with existing requirements, particularly under Solvency II and the International Financial Reporting Standards. Easing of current reporting burdens was a key consideration in the Opinion. Another important matter considered is whether essential corporate sustainability data will be available, in line with risk management requirements under Solvency II.
Calls for Input on Private Equity Funds Acquiring (Re)insurance Undertakings
On 3 February 2026, EIOPA launched a consultation on a draft supervisory statement on the authorisation and ongoing supervision of (re)insurance undertakings related to private equity firms (the Draft Statement). In the accompanying press release, EIOPA explained that the Draft Statement has been formulated in response to private equity (PE) firms’ increasing interest in the European insurance sector in recent times. The Draft Statement highlights risks and challenges posed by PE acquisitions for supervisors, including complex ownership structures which can make it harder to effectively supervise PE-owned undertakings, excessive reliance on third country reinsurance, and misalignment of investment horizons (which can conflict with obligations to policyholders). The consultation runs until 30 April 2026.
EIOPA Publishes Amends to Guidelines in Light of Solvency II Review
Following consultations in 2025, EIOPA published its final Revised Guidelines on (1) the Supervisory Review Process and (2) the Treatment of Market and Counterparty Risk Exposures in the Standard Formula on 13 February 2026. The Revised Guidelines on the Supervisory Review Process include updates which cater for recent regulatory developments and best practices in supervision, as well as risks and trends that have emerged since they were first adopted in 2015. This set of Revised Guidelines applies to supervisors from 30 January 2027.
Meanwhile, the Revised Guidelines on Treatment of Market and Counterparty Risk Exposures in the Standard Formula begin to apply two months after they have been translated into all EU languages. In addition to clarifying existing Guidelines, those relating to employee benefits, market risk concentration, average duration for the duration-based equity sub-module and securities lending transactions and similar agreements have been deleted in the final Revised Guidelines.
The European Commission publishes technical Information for the calculation of technical provisions and basic own funds for Q1 2026
On 18 February 2026, the European Commission published technical information on the calculation of technical provisions and basic own funds for reporting under Solvency II in the Official Journal (the Implementing Regulations). These regulations provide technical information that (re)insurers must use when calculating basic own funds for reporting dates between 31 December 2025 and 30 March 2026.
The European Commission publishes Delegated Regulation amending Solvency II
The European Commission published the Commission Delegated Regulation (EU) 2026/269 (the Delegated Regulation) in the Official Journal of the European Union on 18 February 2026. It amends the Solvency II Delegated Regulation (EU) 2015/35 in areas such as technical provisions, long-term guarantee measures, own funds, equity risk, spread risk on securitisation positions, other standard formula capital requirements, reporting and disclosure, proportionality, and group solvency.
The Delegated Regulation was adopted by the European Commission on 29 October 2025 and entered into force on 10 March 2026. The Delegated Regulation will apply from 30 January 2027.
ECB Working Paper confirms a link between higher insurance coverage and less severe macroeconomic consequences of climate-related catastrophes
A Working Paper recently published by the European Central Bank (ECB) shows that recovery times after climate-related catastrophes decrease when appropriate insurance coverage is in place. The report also highlights the protection gap that currently exists (particularly in Europe), where less than 25% of losses caused by climate-related catastrophes are covered by insurance. It further suggests measures to address the gap beyond merely increasing insurance coverages, such as the promotion of risk awareness by insurance companies, the development of risk reduction strategies or the establishment of mandatory insurance take-up, among others.
Date published: 30 March 2026
This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.