EIOPA Finalises Supervisory Statement On Reinsurance From Third-Country Reinsurers

As detailed in our previous post (available here), the European Insurance and Occupations Pensions Authority (EIOPA) has now concluded its public consultation and published its supervisory statement on the supervision of reinsurance concluded with third-country reinsurers.

As expected, whilst EIOPA has taken on board some comments from stakeholders, the substance of the supervisory statement, as well as EIOPA's supervisory expectations, remain largely unchanged.

While the supervisory statement is largely addressed to national competent authorities, such as the Central Bank of Ireland, as the feedback statement makes clear, it also sets expectations for (re)insurance undertakings.