Commission seeks feedback on the review of the Solvency II Delegated Regulation

The Commission has published for stakeholder feedback a draft delegated act reviewing the Solvency II Delegated Regulation. The Commission is seeking feedback regarding changes to the technical rules governing the valuation of insurers’ liabilities, the calculation of solvency requirements, reporting and disclosure obligations, group supervision, and other related areas.

In its Communication on the savings and investments union (SIU) the Commission announced the intention to improve the way the EU financial system works to better support investments and enhance the EU’s competitiveness.

With trillions of assets under management, the insurance sector remains a key European institutional investor and can contribute to the SIU objectives. The draft amendments aim to remove deterrents for insurers to support the long‑term financing of the European economy, while preserving financial stability and ensuring policyholder protection. The draft delegated act proposes a dedicated treatment for long‑term equity investments by insurers that aims to encourage equity financing of European firms and facilitating their access to stable, long‑term capital. It also proposes measures to reduce the impact of short‑term market volatility on solvency positions. In line with the securitization package presented on 17 June 2025, some draft provisions of the Solvency II Delegated act aim to remove barriers investments in securitization by insurers, by reducing risk factors on both simple, transparent and standardised (STS) and non‑STS securitisation.

Some amendments would also simplify supervisory reporting and disclosure requirements, especially for smaller insurers with low‑risk business models, by extending reporting deadlines and introducing greater proportionality to reduce administrative burdens.

In addition, the draft proposes a recalibration of capital requirements for natural catastrophe risks to reflect the latest scientific insights related to climate change. It also recognises the role insurers can play in mobilising additional private capital to support key EU objectives, including investments made in the real economy alongside public funds, notably where public guarantees or subsidies are involved.

The Commission invites all stakeholders, including civil society, consumers, businesses, financial market participants and Member State authorities, to submit their views on the Have your Say Portal by 5 September. The contributions will be taken into account when drafting the proposal expected for the third quarter of 2025.

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Related links

Insurance regulation

Solvency II - Implementing and delegated acts

Savings and investments union

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