European Insurance and Occupational Pensions Authority submits draft IRRD standards on insurance resolution colleges and resolution planning reporting templates

The European Insurance and Occupational Pensions Authority submitted to the European Commission two draft technical standards to support implementation of the EU Insurance Recovery and Resolution Directive, which is set to become operational in 2027. The package sets out how resolution colleges for insurance groups should function and standardises the information insurers must provide to resolution authorities to enable resolution planning. The draft Regulatory Technical Standards specify the operating model for resolution colleges, including cooperation on group resolution plans, assessments of resolvability, approaches to addressing substantive impediments to resolvability, and governance principles for cross-border group resolutions. The draft Implementing Technical Standards establish procedures and a minimum set of standardised forms and templates for insurers’ submissions for resolution plans, drawing on existing Solvency II reporting and national experience to avoid duplication and limit reporting burden. EIOPA highlights burden-reduction design choices including targeted template reporting focused on entities needed for resolution planning (covering 40% of the market), aggregated rather than granular liabilities information, biennial reporting aligned to resolution plan updates with a two-week extension for first-time reporting, and discretion for resolution authorities to apply simplified obligations; final reports include impact assessments and feedback statements from public consultations held from July to October 2025.