EIOPA is part of the European System of Financial Supervision consisting of three European Supervisory Authorities, the National Supervisory Authorities and the European Systemic Risk Board. One of the tasks of the European Insurance and Occupational Pensions Authority (EIOPA) is to initiate and coordinate Union-wide stress tests to assess the resilience of financial institutions. EIOPA has recently tested the insurers’ ability to meet the future Solvency II Minimum Capital Requirements (MCR) under a number of stress scenarios, comprising market, credit and insurance-related risks. The results of this stress test indicate that overall the European insurance market is well prepared for potential future shocks. Over the coming months, the National Supervisory Authorities will discuss the results of the stress test with individual insurers.
EIOPA is part of the European System of Financial Supervision consisting of three European Supervisory Authorities, the National Supervisory Authorities and the European Systemic Risk Board. One of the tasks of the European Insurance and Occupational Pensions Authority (EIOPA) is to initiate and coordinate Union-wide stress tests to assess the resilience of financial institutions. EIOPA has recently tested the insurers’ ability to meet the future Solvency II Minimum Capital Requirements (MCR) under a number of stress scenarios, comprising market, credit and insurance-related risks. The results of this stress test indicate that overall the European insurance market is well prepared for potential future shocks. Over the coming months, the National Supervisory Authorities will discuss the results of the stress test with individual insurers.