European Commission 5 April 2018, REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on the application of Title III of Directive 2009/138/EC of the European Parliament and the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) as regards the supervision of insurance and reinsurance undertakings in a group, and the assessment of the transitional period for the occupational retirement provision business of life insurance undertakings

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The report from the European Commission assesses the implementation of Title III of the Solvency II Directive, focusing on group supervision of insurance and reinsurance undertakings and the transitional provisions for occupational retirement provision by life insurers. Key findings highlight challenges in defining a group, the effectiveness of supervisory cooperation, and the need for enhanced powers for the European Insurance and Occupational Pensions Authority (EIOPA) to ensure supervisory convergence, particularly regarding internal models. The report also indicates that while the transitional period for life insurance undertakings is monitored, no immediate extension is recommended, with further evaluations expected before the end of 2022.AI