Review presents an opportunity for Green Deal and Capital Markets Union
EIOPA has submitted far-reaching proposals for discussion about the Solvency II review. The German insurance industry welcomes this unprejudiced procedure. The review should be seen as an opportunity to align Solvency II with overarching European economic policy goals.
EIOPA emphasizes that it is not presenting any final proposals at this point but merely draft proposals for consultation. Nonetheless, even at this early stage it is clear that many of these proposals are not in the spirit of the EU’s overarching investment objectives.
It should be ensured from the outset that the role of the European insurance sector as a long-term, sustainable investor is not called into question by this review. After all, without a substantial investment by insurers, Europe will hardly be able to achieve its climate goals.