The European Insurance and Occupational Pensions Authority (EIOPA) has published new Guidelines on diversity considerations that (re)insurance undertakings should take into account when selecting members of their administrative, management and supervisory bodies, alongside revised Guidelines on methods for determining market shares for supervisory reporting. The diversity Guidelines respond to amendments introduced via the Solvency II Review, including a requirement for (re)insurers to adopt policies promoting diversity within these bodies and to set quantitative objectives related to gender balance. The diversity Guidelines aim to support a more diverse composition of senior decision-makers based on educational and professional background, age, gender and geographical origin, both in recruitment and on an ongoing basis. They apply to all (re)insurance undertakings and groups and were developed to align with similar diversity guidelines for banks and financial market participants. The revised market share Guidelines update the existing reporting approach to reflect legal changes made through the Solvency II Review. Both sets of Guidelines will become applicable as of 30 January 2027.
European Insurance and Occupational Pensions Authority 2025-10-14
European Insurance and Occupational Pensions Authority issues Solvency II diversity guidelines for (re)insurers’ governing bodies and updates market share reporting guidance
The European Insurance and Occupational Pensions Authority (EIOPA) released new Guidelines on diversity for (re)insurance undertakings' administrative, management, and supervisory bodies, and revised Guidelines on market share determination for supervisory reporting. The diversity Guidelines, part of the Solvency II Review, require policies promoting diversity and gender balance. The revised market share Guidelines update reporting methods to align with recent legal changes.