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06 November 2015

EIOPA produces a draft ITS on the Solvency II equity transitional measures


The EIOPA has published the Final Report on its public consultation on the draft Implementing Technical Standard (ITS) setting up procedures for the application of the transitional measure for the calculation of the Solvency II equity risk sub-module.

This draft ITS was publicly consulted by European Insurance and Occupational Pensions Authority (EIOPA) on 3 December 2014 – 2 March 2015.

Implementing Technical Standards define forms, templates and procedures for specific areas under Solvency II. They do not imply strategic decisions or policy choices.

The Solvency  II Directive requested  the  submission  of  the draft ITS  by  end  of  June 2015.  However, in  anticipation of an  amendment  to  the  Commission  Delegated Regulation (EU) 2015/35, which would affect the application of the equity transitional, the European Commission requested EIOPA to postpone the delivery of the draft ITS until  completion  of  the  modified  Delegated  Regulation.  The  amended  Delegated Regulation  was  adopted  by  the  European  Commission  on  30  September  2015,  and will, when it enters into force, extend the application of the  transitional measure for equity  investments  to all  equities,  including unlisted  equities  and  introduce  a simplification for the application of the equity transitional for equity held in collective investment undertakings or investments packaged as funds.

This  Final  Report  includes  the  feedback  statement  to  the  consultation  paper  (EIOPA-CP-14/051) and the full package of the public consultation, including:

  • Annex I: Implementing Technical Standard
  • Annex II: Impact Assessment
  • Annex III: Resolution of comments

Full report



© EIOPA


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