EU Watchdog Reveals Extent Of Solvency Reporting Breaks
By Martin Croucher (December 21, 2021, 12:23 PM GMT) -- European watchdogs granted breaks to almost 700 insurers for quarterly reporting on capital adequacy levels in the first three months of the year, according to data released by the bloc's insurance super-regulator on Tuesday.
The European Insurance and Occupational Pensions Authority said that the exceptions for reporting under Solvency II requirements were issued on a case-by-case basis by 11 national regulators within the European Economic Area.
The breaks, granted to 669 companies in the sector, were not issued as a result of EIOPA taking a softer line during the pandemic. They were issued under an established clause within the 2016 Solvency II...
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