European

EIOPA consults on enhancements to insurance corporate disclosures under EU taxonomy for environmentally sustainable activities

On 1 July 2026, the European Insurance and Occupational Pensions Authority (EIOPA) launched a consultation on proposed changes to insurance corporate disclosures under the EU Taxonomy framework, with the aim of improving transparency, simplifying reporting obligations and aligning taxonomy-related disclosures with other sustainable finance frameworks.

Proposals made under the consultation paper include:

• Revising the current underwriting KPI by limiting the denominator of taxonomy and eligibility ratios to taxonomy-eligible business only and renaming it the ‘adaption underwriting KPI’.
• Standardising the calculation of eligible activities.
• The potential introduction of a new ‘Green Insured Activities KPI’ to measure the ratio of taxonomy-aligned insured activities.
• Simplifying reporting templates by removing disclosures on gas and nuclear activities and increasing the inclusion of taxonomy-related disclosures in annual reports.
• Streamlining group reporting to focus on the parent company’s ‘main business’ and not introducing voluntary reporting based on investment operational expenditure.

EIOPA invites stakeholders to provide their feedback by 12 August 2026.

EIOPA publishes new guidelines and draft technical standards related to the Insurance Recovery and Resolution Directive

As part of the implementation of the Insurance Recovery and Resolution Directive (IRRD), EIOPA was mandated to develop 19 technical standards and guidelines. On 8 July 2026, EIOPA published seven further instruments, bringing the total number of finalised and submitted instruments to 15. The instruments were developed following public consultations held from December 2025 to March 2026. They reflect EIOPA’s objectives of reducing the burden on authorities and undertakings by simplifying the regulatory framework without compromising its effectiveness.

The published instruments include four guidelines and three draft regulatory technical standards (RTS), including:

• guidelines on scenarios
• guidelines on indicators
• guidelines on the provision of information
• guidelines on simplified obligations
• RTS on the independence of valuers
• RTS on contractual recognition of resolution stay powers 
• RTS on the valuation of liabilities from derivatives

EIOPA completes its Solvency II review mandate with final guidelines and draft technical standards before the revised framework takes effect

On 15 July 2026, EIOPA published eight sets of guidelines and draft technical standards, completing all mandates assigned to it under the review of the Solvency II framework. The package includes:

• New guidelines on supervisory powers to address liquidity vulnerabilities.
• One set of RTS on the calculation of the risk margin.
• Revisions to four sets of guidelines and two sets of implementing technical standards in several areas. 

The changes were developed as part of EIOPA's Solvency II review mandate, while the revisions ensure existing instruments remain current and consistent with the amended regime. EIOPA sought to simplify the guidelines and address areas where further clarification was required. These instruments will apply from 30 January 2027, alongside the other legal changes introduced by the Solvency II review.

EIOPA consultations on IRRD draft technical standards covering the valuation of (re)insurers in the context of resolution

On 8 July 2026, EIOPA launched two consultations on policy instruments related to the implementation of the European Union’s Insurance Recovery and Resolution Directive (IRRD). The consultation papers focus on the valuation of (re)insurance undertakings and groups and propose draft technical standards on valuation for the purposes of resolution. The papers cover four separate mandates under the IRRD across two instruments. Stakeholders are invited to provide feedback on the papers by 20 October 2026.

EIOPA publishes factsheet on European (re)insurers’ exposures to private credit and private equity

EIOPA published a factsheet providing an overview of (re)insurers’ exposure to private assets. The private asset exposure of European Economic Area (EEA) (re)insurers totalled €1.185tn, or around 11% of total assets, at year-end 2025. Private credit accounted for around 5% of total assets, whereas private equity made up 6.3%. The factsheet provides a breakdown of these investments across different asset types and issuer countries, as well as charting investments by line of business. The factsheet highlights that life insurers tend to be more heavily invested in private credit, while other lines of business, such as reinsurance, lean more heavily towards private equity.

Date published: 6 August 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.