European Commission 22 September 2021, Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2009/138/EC as regards proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks, group and cross-border supervision

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The proposal for a Directive amending Directive 2009/138/EC (Solvency II) aims to enhance the prudential framework for the insurance sector by improving proportionality, supervision quality, and addressing sustainability risks, while facilitating long-term investments. Key provisions include adjustments to capital requirements, enhanced reporting obligations for low-risk profile undertakings, and measures to mitigate systemic risks. The proposal is designed to align with EU political priorities, particularly in supporting the post-COVID-19 recovery and the objectives of the Capital Markets Union and the European Green Deal.AI