The European Parliament approved final text of the Solvency II review in October 2024. The European Commission, and the European Insurance and Occupational Pensions Authority, will be providing further detail. In this note, we discuss the second batch of consultation papers related to the Solvency II review, covering the following:
- Draft regulatory technical standards on management of sustainability risks
- Proposed guidelines on diversity in governance structures
- Revised guidelines on undertaking-specific parameters
- Revised technical standards on regional and local government exposures in solvency capital requirement calculations
- Revised guidelines on market and counterparty risk exposures in the standard formula
- A report on biodiversity risk management