European Insurance and Occupational Pensions Authority (EIOPA)

If you've missed yesterday’s event, the Joint ESAs Consumer Protection Day in Riga, take a look at these drawings and you will surely get the essence of a day full of insights and great discussions.   Here are some 𝗵𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 that our graphic recorder captured: 🎯Our goal is about building a financial system that is efficient, simple and safe for Europe! ✔️Simplification should mean doing it better, not necessarily less. 🔂Supervisory convergence is key across all EU jurisdictions. ↪️We want to remove friction and complexity to make information clearer and easier to access. 👥We want to keep the human dimension at the heart of digital transformation. 🛡️The new framework for crypto looks to create legal certainty and investor protection. 🧩Fragmented responses leave consumers vulnerable, so cooperation is absolutely key. ⚖️At the heart it's about finding a balance between: simplifying access to financial services for consumers by fostering innovation, while ensuring that consumers remain protected. 💪Together we can build a framework that is simple enough to be trusted and robust enough to be safe!   Thank you, Caroline Chapple, for illustrating the day in such a compelling way!

EIOPA supports today’s #NGFS Declaration on the Economic Cost of Climate Inaction ahead of next week’s #COP30 meeting in Belém. 🌿 𝗧𝗵𝗲 𝗺𝗲𝘀𝘀𝗮𝗴𝗲 𝗶𝘀 𝗰𝗹𝗲𝗮𝗿: delaying #climate action will only make the #transition more costly and increase risks — with knock-on effects for households, businesses and financial stability. ⚠️ Through the Network for Greening the Financial System (NGFS), central banks and supervisors are embedding climate and nature-related risks into strategies and oversight. As an active NGFS member, EIOPA is contributing by strengthening the prudential framework for #insurers, raising awareness about protection gaps and proposing pragmatic steps to mitigate and reduce the economic impact of climate #risks. 🔍 Insurers can support a more orderly transition with their risk assessment capacities, underwriting tools and investment power — but getting the transition right requires collective action. 🌐 📗 Learn more about EIOPA’s sustainable finance work: 🔗 https://lnkd.in/evrWBkN7 📑 Read the NGFS Declaration: 🔗 https://lnkd.in/epCRvpTH #NGFS #sustainability #sustainablefinance #ESG #climatechange #climateaction #UNCOP #UNCOP30 #EUfinance

✨ What an insightful 𝗝𝗼𝗶𝗻𝘁 𝗘𝗦𝗔𝘀 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 𝗗𝗮𝘆! 𝗪𝗵𝗮𝘁 𝗱𝗶𝗱 𝘁𝗵𝗲 𝗱𝗮𝘆 𝗵𝗼𝗹𝗱 𝗶𝗻 𝘀𝘁𝗼𝗿𝗲 𝗳𝗼𝗿 𝘂𝘀? 👥Following a keynote speech from Commissioner Albuquerque and a panel on simplifying the customer journey to kick off the day, participants turned their attention to the rapidly evolving world of 𝗰𝗿𝘆𝗽𝘁𝗼 𝗮𝘀𝘀𝗲𝘁𝘀. Moderated by 𝗦𝗮𝗹𝘃𝗮𝘁𝗼𝗿𝗲 𝗚𝗻𝗼𝗻𝗶, Head of the Investor Protection and Intermediaries Unit at ESMA, our second panel spoke about the risks associated with crypto-assets and the need for consumers to be cautious in engaging with crypto-asset products and services. 🎤 After lunch, 𝗝𝗼𝘀𝗲-𝗠𝗮𝗻𝘂𝗲𝗹 𝗖𝗮𝗺𝗽𝗮, Chair of the EBA, gave an introductory address, followed by a keynote speech by Aurore Lalucq, Chair of the Economic and Financial Committee at the European Parliament. 👥Our final session, moderated by 𝗙𝗿𝗮𝗻𝗰𝗼𝗶𝘀-𝗟𝗼𝘂𝗶𝘀 𝗠𝗶𝗰𝗵𝗮𝘂𝗱, Executive Director at the EBA, looked into a major threat to financial resilience and market confidence: the increase in online fraud and scams. 🎤At the end of day, 𝗩𝗲𝗿𝗲𝗻𝗮 𝗥𝗼𝘀𝘀, the Chair of ESMA closed the event summarising some of the highlights of the day. We are thanking our speakers, the many participants who attended the event in person, as well as our hosts and the organising teams for making this event so successful. Thank you to everyone who made it possible to go one step further into more efficient, simpler and safer financial services for Europeans.

We are thrilled to kick off the 𝟭𝟮𝘁𝗵 𝗝𝗼𝗶𝗻𝘁 𝗘𝗦𝗔𝘀 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 𝗗𝗮𝘆 𝗶𝗻 𝘁𝗵𝗲 𝗯𝗲𝗮𝘂𝘁𝗶𝗳𝘂𝗹 𝗰𝗶𝘁𝘆 𝗼𝗳 𝗥𝗶𝗴𝗮 !   We are happy to see close to 400 participants attending in person this important annual event. Representatives from consumer associations, supervisory authorities, industry, EU institutions and academia listen to and discuss what can be done to further promote protection of consumers in the financial sector.   𝗧𝗵𝗲𝗺𝗲: This year's theme is: Building a framework for more efficient, simpler and safe financial services for consumers.   This theme is at the very heart of the European Supervisory Authorities' mission, encapsulating the constant balancing act we face in modern financial regulation: simplifying access to financial services by fostering innovation, while ensuring robust consumer protection.   📄𝗪𝗵𝗮𝘁'𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗮𝗴𝗲𝗻𝗱𝗮? We put together an attractive programme touching on some of the most relevant current topics from a regulatory and supervisory perspective.   🎤𝗣𝗲𝘁𝗿𝗮 𝗛𝗶𝗲𝗹𝗸𝗲𝗺𝗮, EIOPA Chairperson and current Chair of the Joint Committee of the European Supervisory Authorities, opened the event with an introductory speech.   🎤𝗠𝗮𝗿𝗶𝗮 𝗟𝘂𝗶𝘀 𝗔𝗹𝗯𝘂𝗾𝘂𝗲𝗿𝗾𝘂𝗲, Commissioner for Financial Services and the Savings and Investments Union, then shared some of the priorities of the European Commission and what needs to be done to deepen the Savings and Investments Union (SIU).   🎤To introduce the first panel, our host in Riga, 𝗘𝘃𝗶𝗷𝗮 𝗗𝘂𝗻𝗱𝘂𝗿𝗲, Director Insurance and Pension Supervision Department at the Central Bank of Latvia, shared their experience in engaging with customers, as well as the main outcomes of EIOPA’s mystery shopping exercise on the Latvian market.   👥The first panel discussion of the day focused on 𝘀𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻: how to build a consumer-focused framework that supports effective regulation, where simplified processes lead to tangible benefits for individuals and a greater feeling of confidence in the financial system.   We look forward to the remaining of the day.   A special thank you to Latvijas Banka for their support in organising this year's event.   📷 Photo copyright: www.macart.lv   #EIOPA European Banking Authority (EBA) European Securities and Markets Authority (ESMA)

💼 In 2024, direct insurers allocated their investments across the following types of assets: 🔹35% went into Collective Investment Undertakings 🔹19% into government bonds 🔹18% into corporate bonds 🔹16% into equity 📊 Curious about how these shares have evolved throughout the years? Check out the European Insurance Overview report, an objective and data-driven report by EIOPA 👉 https://lnkd.in/eAcCdeWZ It covers key areas such as: ✔ Life Sector ✔ Non-Life Sector ✔ Solvency and Capitalization ✔ Investments You can also download the excel file of this report and check our insurance statistics page here 👉 https://europa.eu/!qWTyPQ

𝗙𝗥𝗔𝗨𝗗 𝗔𝗟𝗘𝗥𝗧 - ⚠️ 𝗕𝗲𝘄𝗮𝗿𝗲 𝗼𝗳 𝘀𝗰𝗮𝗺𝘀 𝘂𝘀𝗶𝗻𝗴 𝗘𝗜𝗢𝗣𝗔’𝘀 𝗻𝗮𝗺𝗲 𝗮𝗻𝗱 𝗹𝗼𝗴𝗼 ⚠️ We’ve been informed that 𝘀𝗰𝗮𝗺𝗺𝗲𝗿𝘀 𝗮𝗿𝗲 𝗺𝗶𝘀𝘂𝘀𝗶𝗻𝗴 𝗘𝗜𝗢𝗣𝗔’𝘀 𝗻𝗮𝗺𝗲 𝗮𝗻𝗱 𝗹𝗼𝗴𝗼 or impersonating EIOPA staff to unlawfully request payments or personal information. Scammers may contact you by email, phone, social media or post. 💡 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝘁𝗼 𝗯𝗲𝗮𝗿 𝗶𝗻 𝗺𝗶𝗻𝗱: 🔹 EIOPA never requests payments or personal data from private individuals. 🔸 We do not contact the public about services or the supervision of companies. 🔹 Messages that seem too good to be true or urge quick action are red flags! 🔍 𝗜𝗳 𝘆𝗼𝘂 𝗿𝗲𝗰𝗲𝗶𝘃𝗲 𝗮 𝘀𝘂𝘀𝗽𝗶𝗰𝗶𝗼𝘂𝘀 𝗺𝗲𝘀𝘀𝗮𝗴𝗲 𝗰𝗹𝗮𝗶𝗺𝗶𝗻𝗴 𝘁𝗼 𝗯𝗲 𝗳𝗿𝗼𝗺 𝗘𝗜𝗢𝗣𝗔: 🚫 Do not respond or send money. 📩 Contact us via our official contact form to verify its authenticity. 👮♀️ Report the matter to your local law enforcement authorities. 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗳𝗼𝗿𝗺 ➡️ https://lnkd.in/e59XZ-Yf 𝗠𝗼𝗿𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 ➡️ https://lnkd.in/erPkxJFE Stay alert — and always verify before you act. ✅ #FraudAlert #ScamAwareness #EIOPA #ConsumerProtection #Scam #Fraud

𝗛𝗼𝘄 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝘁 𝗶𝘀 𝗘𝘂𝗿𝗼𝗽𝗲’𝘀 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝘀𝗲𝗰𝘁𝗼𝗿 𝗶𝗻 𝘁𝗼𝗱𝗮𝘆’𝘀 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻 𝗮𝗻𝗱 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗲𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁? 🌊⛵ EIOPA’s latest 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗥𝗶𝘀𝗸 𝗗𝗮𝘀𝗵𝗯𝗼𝗮𝗿𝗱 offers a clear snapshot. 📸 Overall, the sector remains 𝘀𝘁𝗮𝗯𝗹𝗲 𝗮𝘁 𝗮 𝗺𝗲𝗱𝗶𝘂𝗺 𝗹𝗲𝘃𝗲𝗹 𝗼𝗳 𝗿𝗶𝘀𝗸, supported by strong #solvency and solid #profitability. Yet, persistent market tensions and emerging #vulnerabilities continue to shape the outlook. While macroeconomic and credit risks show little change, and insurance risks are easing, attention is shifting toward #ESG and #cyber risks — with both areas showing signs of growing importance for insurers. 🔍 Explore the full picture in our dashboard to see how #risks are evolving across the sector and which trends deserve closer monitoring. 🗞️ https://lnkd.in/e7g3rh4U 📊 https://lnkd.in/eg82JWTB #riskassessment #riskmanagement #EIOPA #EUfinance #finance #supervision #insurers #insurance #solvencyII #financialstability

🔸𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝘂𝗽𝗱𝗮𝘁𝗲 𝗳𝗿𝗼𝗺 𝗘𝗜𝗢𝗣𝗔🔸 #EIOPA’s Board of Supervisors today decided to nominate Damian Jaworski as the insurance and occupational pensions authority’s next Executive Director. Mr Jaworski currently serves as Director of the International Cooperation Department at the Polish Financial Supervision Authority (KNF) and would bring nearly 30 years of experience in financial regulation and supervision to EIOPA’s senior management. 📚 He is 𝗲𝘅𝗽𝗲𝗰𝘁𝗲𝗱 𝘁𝗼 𝘁𝗮𝗸𝗲 𝘂𝗽 𝘁𝗵𝗲 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 𝗼𝗻 𝟭 𝗔𝗽𝗿𝗶𝗹 𝟮𝟬𝟮𝟲, following confirmation by the European Parliament. 🔗 https://lnkd.in/ev4cMqWK #EIOPA #insurance #pensions #occupationalpensions #savings #IORP #supervision #regulation #SolvencyII #careers

When I sat down with Kathimerini ’s Vassilis Kostoulas a little more than a week ago, we discussed how 🇪🇺 Europe’s ageing societies are testing the balance of our pension systems. ⚠️ While much of our conversation focused on Greece 🇬🇷 , the main message applies across the continent – and beyond. 🌍 Back in the 1990s, we had around five working-age people for every pensioner in Europe. 👩⚕️🧑🏭👨🏫👩⚖️👨🔧 vs 👴 Today, we have three. By the middle of this century, in all likelihood, it will be fewer than two. 👩⚕️🧑💼 vs 👵 As the balance between workers and pensioners shifts so dramatically, pay-as-you-go pension systems struggle to remain sustainable. 🫤 To ensure future generations can retire with dignity, we need to strengthen supplementary, funded pension arrangements to complement state pensions and narrow Europe’s growing pension gaps. 🛡️ You can read the full #interview (also in English) here. 🔽 https://lnkd.in/eBvubFps #pensions #workplacepension #IORP #SIU #SIA #savings #EUfinance #sustainbility #financialstability European Insurance and Occupational Pensions Authority (EIOPA)

🔐🗓️ This October marks the 13th edition of the European Cybersecurity Month, a collective commitment across Europe to put cybersecurity first. In the insurance sector, cyber is twofold: 🏢𝗧𝗵𝗲 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗶𝘁𝘀𝗲𝗹𝗳: more and more insurance undertakings are embracing new technologies and making use of big data. The increasing frequency and sophistication of cyber-attacks make insurers prone to cyber threats.  📓To strengthen the digital resilience of financial entities, the EU introduced the Digital Operational Resilience Act (DORA). It ensures that banks, insurance companies, investment firms and other financial entities can withstand, respond to, and recover from cyberattacks or system failures. More about EIOPA's role in DORA: https://lnkd.in/dcHJPqpM 🛡️𝗖𝗼𝘃𝗲𝗿𝗶𝗻𝗴 𝗮𝗻𝗱 𝗺𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝗰𝘆𝗯𝗲𝗿 𝗿𝗶𝘀𝗸: EIOPA is also looking at the cyber insurance protection gap, monitors risks, and identifies opportunities related to cyber underwriting. 🇪🇺 It is crucial to keep building resilience together and protect our digital future.  #CyberSecMonth #ECSM2025 #EUAgenciesNetwork