(22 September 2021) The European Commission has today adopted a comprehensive review of EU insurance rules so that insurance companies can scale up long-term investment in Europe’s recovery from the COVID-19 pandemic.
Today’s review also aims to make the insurance and reinsurance (i.e. insurance for insurance companies) sector more resilient so that it can weather future crises and better protect policyholders.
Moreover, simplified and more proportionate rules will be introduced for certain smaller insurance companies.
The aim of today’s review is to strengthen European insurers’ contribution to the financing of the recovery, progressing on the Capital Markets Union and the channelling of funds towards the European Green Deal.
In the short term, capital of up to an estimated €90 billion could be released in the EU.