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The European Insurance and Occupational Pensions Authority (EIOPA) has announced the launch of a public consultation on the new Solvency II proportionality measures. Stakeholders can take part in this consultation by responding to the survey questions, available online until 25 October 2024.
The next stage will see the adoption of the final Solvency II revised text by Parliament, followed by its publication and entry into force. Once the revised directive comes into force, Member States will have 24 months to transpose and implement it, that is, by the second half of 2026.
The Solvency II revision is aimed at tightening certain requirements imposed on small companies, while easing others. The proportional regime will be based on three well-defined axes:
- an increase in the Solvency II exclusion thresholds for very small companies,
- quasi-automatic application of the proportional regime if certain criteria are met,
- the possibility for companies excluded from the regime to request authorization to benefit from certain advantages offered by this legislative framework.
