EIOPA outlines strategic priorities for next three years

Written by Natalie Tuck

06/10/2023

The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the period 2024 – 2026.

In a context of evolving challenges, risks and opportunities, EIOPA will focus on managing the uncertainty in times of transformation so that the insurance and pensions sectors can continue to deliver value to policyholders and beneficiaries, to business and the EU economy.

It will continue to integrate sustainable finance considerations across all areas of work, including integrating ESG risks in the prudential frameworks on insurers and pension funds and addressing protection gaps.

EIOPA will also support consumers, the market and the supervisory community through digital transformation, with a focus on defining the policy and implementing the Digital Operational Resilience (DORA), the Artificial Intelligence Act and the European Single Access Point (ESAP).

In addition, the authority said it plans to enhance the quality and effectiveness of supervision, particularly in view of increased cross-border business, including the revision of the supervisory convergence materials considering the Solvency II review.

It will also ensure technically sound prudential and conduct of business policy, including maintaining the integrity of the insurance regulatory framework as the review of Solvency II reaches its next stages.

Its strategic priorities also include identifying, assessing, monitoring and reporting on risks to the financial stability and conduct of business and promoting preventative policies and mitigating actions, including the provision of timely and accurate financial stability analyses and risk assessments.

Finally, EIOPA plans to provide effective recruitment, management and development of its own human capital to further enhance its position as an attractive employer.

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