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"Shaping the Future of Insurance: a Regulator’s perspective” - Director Seána Cunningham remarks at European Insurance Forum
Seána Cunningham, Director of Insurance at the Central Bank of Ireland (CBI), recently delivered a speech at Insurance Ireland’s European Insurance Forum 2025.
Alluding to the conference’s theme for 2025 ("Resilience and Revitalisation: Shaping the Future of Insurance”), the three key topics covered in Ms. Cunningham’s speech were:
Looking ahead, Ms. Cunningham noted that these topics underpin stakeholders’ shared goal of ensuring a robust and well-functioning insurance sector and are especially important in light of the rapid pace of change in the nature, shape and digitalisation of the global economy and financial system.
The remarks can be accessed here.
CBI announces change to Insurance Compensation Fund levy
The CBI has announced that it will reduce the Insurance Compensation Fund (ICF) levy from 2% to 1% as of 1 January 2026. The reduction (the first since 2012) follows a CBI assessment of the value of the ICF in light of projected collections and future funding requirements. The CBI expects that the reduction will positively affect eligible non-life insurance policyholders, such as those with eligible home and motor insurance policies. In its press announcement, the CBI noted that it expects reductions to be passed on to policyholders without delay.
The announcement can be read here.
CBI publishes seventh annual Private Motor Insurance Report of the NCID
The CBI published the annual Private Motor Insurance Report of the National Claims Information Database (NCID).
The report provides an overview of the financial performance of the private motor insurance sector, including details on the total gross written premium, total cost of claims and the average premium per policy for 2024. It also provides details on the methods in which claims were settled during the course of 2024.
The report can be accessed here.
EIOPA launches new set of consultations related to the Solvency II Review
The European Insurance and Occupational Pensions Authority (EIOPA) has opened a new series of consultations arising from the review of the Solvency II framework. The consultations align with EIOPA’s intention to reduce burden and increase regulatory simplification. The consultations include:
EIOPA invites stakeholders to provide their feedback by 5 January 2026 which can be accessed here.
EIOPA publishes new guidelines to promote diversity on (re)insurers’ boards
EIOPA has published new guidelines on 14 October 2025 to promote diversity within the administrative, management and supervisory bodies (AMSBs) of (re)insurance undertakings.
The guidelines aim to foster diversity in senior roles when recruiting new members to AMSBs and on a general ongoing basis. The guidelines will apply to all (re)insurance undertakings and groups and are aligned with applicable guidelines for other financial institutions within the European Union.
These guidelines come into effect on 30 January 2027 and can be read here.
EIOPA updates the RFR technical documentation
On 16 October 2025, EIOPA published updated technical documentation relating to the methodologies used to derive risk-free interest rate term structures. EIOPA made these updates to cater for its 2025 Deep, Liquid and Transparency Assessment 2025 as well as Bulgaria’s plan to adopt the Euro as of 1 January 2026.
The changes outlined in the updated technical documentation are effective from 1 January 2026 and can be accessed here.
Simplification and burden reduction for a stronger insurance market - speech delivered by Petra Hielkema, EIOPA Chairperson
EIOPA Chairperson, Petra Hielkema, delivered a speech at the Insurance Today and Tomorrow Conference organised by the Management Center of Competence on 21 October 2025.
Her remarks focused on the importance of simplification and burden reduction as catalysts of driving progress in the European insurance sector. Acknowledging challenges facing the sector (including consumer attitudes/behaviours, market fragmentation, and administrative burden and complexity), Ms Hielkema emphasised the role simplification can play in combatting these issues.
Key solutions highlighted included EIOPA’s recently proposed Solvency II reforms, as well as additional proposals to simplify the Insurance Distribution Directive.
The remarks can be read here.
EIOPA's insurance risk dashboard shows overall stability amid persistent tensions
EIOPA has published its October 2025 Insurance Risk Dashboard based on Solvency II data for year-end 2024 and Q2 2025. The dashboard aims to illustrate the principal risks in the EU insurance sector through data gathered from insurance groups and undertakings within the EU. The dashboard covers a wide range of risks from credit to ESG-related risks.
The dashboard shows that risks in the sector are at a medium level but remain stable. Macroeconomic risks are relatively static, but insurance risks are trending downwards, due to the slowdown of life premium growth and stabilisation of underwriting results. ESG-related risks remain medium, but are trending slightly upwards, due to a reduction in the proportional share of green bonds green bonds held by insurers as well as a growth in undertakings’ median exposure to climate-relevant assets.
The dashboard can be accessed here.
EIOPA publishes guidelines on methods for determining market share
EIOPA published updated guidelines on methods for determining market share for reporting to supervisory authorities. The revised guidelines aim to further clarify the process and roles of supervisory authorities regarding reporting of market share. These guidelines come into effect on 30 January 2027 and can be read here.
EIOPA warns of fraudulent use of its name and logo by scammers
EIOPA issued a statement on its website on 31 October 2025, noting that it was aware of recent fraudulent activity involving misuse of EIOPA’s name and logo. In the statement, EIOPA encourages persons to exercise caution and sets out measures that can be taken to identify scams, including what to do in the event of a possible scam/fraudulent activity. EIOPA also notes that it does not EIOPA does not contact private individuals directly in relation to its supervisory activities/services and never seeks payments or personal data from private individuals.
The statement can be accessed here.
Date published: 25 November 2025
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.