The European Insurance and Occupational Pensions Authority (EIOPA) has opened a public consultation on draft revised Guidelines on the Supervisory Review Process, which supervisors use to assess insurers’ and groups’ risk exposures and the effectiveness of their controls. The revision aims to clarify existing instructions following the Solvency II review and to bring emerging risks within scope. The draft amendments are designed to align the Guidelines with recent regulatory developments and supervisory best practices while adding processes to address new risks and trends since the Guidelines were first adopted. EIOPA describes the changes as targeted and limited, reflecting an emphasis on regulatory simplification and burden reduction. New sections cover business model analysis, joint on-site inspections, early intervention measures, pre-emptive recovery planning, and supervision of conduct of business, alongside added guidance for incorporating sustainability risks, IT and cyber risks, and Supervisory Technology (SupTech) into supervisory review processes. Feedback is requested via EIOPA’s online survey by 24 September 2025, and responses will be published on EIOPA’s website unless respondents request otherwise.
European Insurance and Occupational Pensions Authority 2025-07-02
European Insurance and Occupational Pensions Authority launches consultation on revised Supervisory Review Process Guidelines covering Solvency II changes and emerging risks
The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on draft revised Guidelines on the Supervisory Review Process, aiming to clarify instructions post-Solvency II review and include emerging risks. The revisions align with recent regulatory developments and best practices, introducing sections on business model analysis, joint inspections, early intervention, and sustainability and IT risks. The changes focus on regulatory simplification and burden reduction.