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<p>This article describes origins and status of the Solvency II (SII) Directive review, the insurance sector’s core single market directive (Directive 2009/138/EC of the European Parliament and of the Council of 25.11.2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) [2009] OJ L335/1 (SII Directive)). It analyses key amendments: the new proportionality regime, changes in group and cross-border supervision and pays attention to provisions regarding governance and reporting. Major implementation challenges for Member States, (re)insurance undertakings, and national supervisory authorities (NSAs) to operationalise the revised provisions, based on tight deadlines, continued framework complexity, the use of unclear concepts, and the confusion of the Commission’s simplification exercise, make this a challenge in time and effort.</p>

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The Solvency II review – key amendments and implementation challenges

  • 期刊论文

  • 发表日期：

    2026年3月30日

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  • Lieve Lowet

摘要

This article describes origins and status of the Solvency II (SII) Directive review, the insurance sector’s core single market directive (Directive 2009/138/EC of the European Parliament and of the Council of 25.11.2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) [2009] OJ L335/1 (SII Directive)). It analyses key amendments: the new proportionality regime, changes in group and cross-border supervision and pays attention to provisions regarding governance and reporting. Major implementation challenges for Member States, (re)insurance undertakings, and national supervisory authorities (NSAs) to operationalise the revised provisions, based on tight deadlines, continued framework complexity, the use of unclear concepts, and the confusion of the Commission’s simplification exercise, make this a challenge in time and effort.