Solvency II review: improving rules for insurers to build a sustainable future
ShareAction, Better Finance, the German Association of the Insured BdV , Urgewald and WWF European Policy Office all have the interests of European financial services users at heart, and work towards a more sustainable global financial system. As such, we advocate for financial rules that safeguard against risks and ensure financial stability, consumer protection and a liveable planet.
Solvency II, the legislative framework for EU insurers, is currently under review. Solvency II, introduced in 2016, laid the foundations for a harmonised, sound, and robust prudential framework for insurance firms in the EU. It is based on the risk profile of each individual insurance company, while ensuring overall comparability, transparency and competitiveness.
We agree with the Commission that the insurance sector should play a role in achieving the targets of the European Green Deal. This is why we call on the European Parliament and Council to make essential improvements to Solvency II, which will secure a sustainable future for insurers – and for society at large.