The European Insurance and Occupational Pensions Authority has submitted to the European Commission two draft technical standards to support implementation of the European Union’s Insurance Recovery and Resolution Directive. The package comprises a draft Regulatory Technical Standard on the establishment and functioning of resolution colleges for insurance groups and a draft Implementing Technical Standard on procedures and minimum standardized forms and templates for insurers to provide information needed by resolution authorities to prepare resolution plans. The resolution college standard sets out how colleges should cooperate in developing resolution plans, assessing group resolvability and addressing substantive impediments to resolvability, and it lays down governance principles for resolving cross-border groups. The reporting standard is designed around existing Solvency II reporting and national experience with resolution reporting, with the aim of limiting new data requests to information strictly necessary for effective resolution planning and not already available elsewhere. In supporting material, EIOPA highlights simplification measures including reliance on existing data sources, biennial reporting aligned with resolution plan updates, a two-week extension in the first year, and limiting mandatory reporting to entities needed for resolution planning, which it says would cover 40% of the market, while allowing resolution authorities to exclude less important entities or apply simplified obligations. The drafts follow public consultations held from July to October 2025, and the Insurance Recovery and Resolution Directive is set to become operational in 2027.
European Insurance and Occupational Pensions Authority 2026-04-24
European Insurance and Occupational Pensions Authority submits two draft standards on resolution colleges and resolution plan reporting under the Insurance Recovery and Resolution Directive
The European Insurance and Occupational Pensions Authority has submitted to the European Commission draft Regulatory Technical Standards on resolution colleges for insurance groups and draft Implementing Technical Standards on procedures and standardized forms for insurers’ resolution-planning data. The standards align reporting with Solvency II, limit new data requests to information strictly necessary for resolution planning, and introduce simplification measures such as biennial reporting and restricting mandatory reporting to entities material for resolution planning.