Selected recent European Insurance news items of more general interest:
The European Parliament votes on 14 September on whether to return draft regulatory technical standards for packaged retail and insurance-based investment products (PRIIPs) to the EU Commission for revision.
Low growth and low yields and political risk continue to affect the financial service industry according to a report from the Joint Committee of the European Supervisory Authorities (ESAs). Their August 2016 Report on Risk and Vulnerabilities highlighted the following developments that affect profitability in the insurance sector:
- the continuing trend for higher premium growth for unit-linked or hybrid products;
- increased competition due to innovations; and
- supervisors need to ensure that risks inc. cyber-risks are managed.
On 5 September, EIOPA, in connection with the Insurance Distribution Directive, sought views on the scope of the Guidelines for insurance based investment products (IBIPs) and relevant types of these products via an online survey.
< Back to News & insight