Solvency II: European Commission Adopted Amendments to Delegated Regulation

The European Commission has issued a Commission Delegated Regulation proposing amendments to Delegated Regulation (EU) 2015/35, which are now adopted. While not yet in force, this regulation introduces important changes across several key areas of insurance supervision. 

What’s Changing?

The proposed amendments cover a wide range of topics, including: 

• assets and liabilities valuation, including the so-called long-term guaranteed measures 

• how to set the level of capital for asset classes an insurer may invest in 

• the eligibility of insurers’ own fund items to cover capital requirements 

• how insurance companies should be managed and governed 

• assessing the equivalence of non-EU countries’ solvency regimes with EU rules 

• rules on the use of ‘internal models’ to calculate requirements on solvency capital 

• specific rules related to insurance groups 

• simplified methods and exemptions to make Solvency II easier to apply for smaller insurers 

These updates are designed to enhance the robustness and responsiveness of the Solvency II framework, aligning it more closely with current market realities and supervisory priorities. 

Current Status: Awating Official Publication 

Please note: This regulation is not yet in force. It will only become effective once published in the Official Journal of the European Union. 

How cleversoft Is Supporting Your Compliance Journey 

At cleversoft, we are actively tracking this development and assessing its potential impact on our solutions and services. Once the regulation is officially published, we will provide a detailed analysis and guidance to ensure our clients are fully prepared. 

Questions about these changes? Contact our regulatory experts to discuss how we can support your compliance needs.