The European Insurance and Occupational Pensions Authority has opened two consultations on draft regulatory technical standards needed to implement the European Union’s Insurance Recovery and Resolution Directive. The proposals set out how insurance and reinsurance undertakings, and groups, should be valued for resolution purposes, covering the four valuation mandates in the directive through two separate instruments structured around the sequence of the required valuations. One draft regulatory technical standard covers valuation 1 and valuation 2, setting methodologies for assessing the value of assets and liabilities in resolution and for calculating the buffer for additional losses to be included in provisional valuations. The second covers valuation 3, establishing how to assess, as soon as possible after resolution action has been taken, whether shareholders, policyholders, beneficiaries, claimants and other creditors would have received better treatment if the undertaking had entered normal insolvency proceedings. The Insurance Recovery and Resolution Directive is due to become operational in January 2027. EIOPA said these are its final consultations linked to the 19 policy instruments supporting implementation of the directive, following three earlier consultations and the publication of 15 finalized policy instruments. Feedback is invited until 20 October 2026.
European Insurance and Occupational Pensions Authority2026-07-08
European Insurance and Occupational Pensions Authority launches final IRRD consultations on insurer resolution valuation standards
The European Insurance and Occupational Pensions Authority has launched two final consultations on draft regulatory technical standards for valuing insurers and groups in resolution under the Insurance Recovery and Resolution Directive. One proposal covers asset and liability valuation and loss buffers for provisional valuations, while the other covers the post-resolution assessment of whether stakeholders would have been better off in normal insolvency. The directive is set to become operational in January 2027, and comments are due by 20 October 2026.