EIOPA reports on progress of simplification initiatives
On 28 September 2026, the EIOPA reported on its simplification initiatives, which aim to make EU insurance and occupational pensions rules and supervision simpler and more proportionate without weakening policyholder protection or financial stability. In an accompanying report, EIOPA describes measures already taken or underway and proposes further ways to reduce unnecessary burdens for insurers, occupational pension funds and supervisors.
As part of its Solvency II simplification work, EIOPA published final proposals in March 2026 to revise the technical standards on supervisory reporting and public disclosure. The proposals would reduce the number of quarterly reporting templates by 26% and annual templates by 30% for individual insurers. For small and non-complex insurers, the proposed reductions are 36% and 44%, respectively. Overall, EIOPA estimates a 22% reduction in reported data points.
EIOPA has also reviewed 25 sets of supervisory guidelines and removed 160 of the 495 individual guidelines included in those sets. In addition, it has prepared technical specifications to support national supervisors in applying the revised Solvency II proportionality framework consistently, particularly for small and non-complex insurers and groups.
In relation to data and stress testing, EIOPA is assessing whether insurers’ liquidity can be monitored using data already submitted under Solvency II rather than through separate liquidity reporting. It also plans to complete a report by the end of 2026 on possible legislative and other measures for integrated data reporting. The next EU-wide bottom-up insurance stress test will be postponed from 2027 to 2028, allowing insurers more time during the initial implementation of the revised Solvency II framework and the Insurance Recovery and Resolution Directive (IRRD). In the meantime, EIOPA will use existing supervisory data to assess sector-wide risks.
EIOPA will also develop technical advice, standards and guidance to implement the Retail Investment Strategy (RIS) once the legislation is finalized. For new disclosures under the Insurance Distribution Directive, it aims to make use of existing documents, including the Insurance Product Information Document and the PRIIPs Key Information Document, rather than introducing parallel disclosure requirements. EIOPA also plans to use existing PRIIPs and Solvency II data to assess whether insurance-based investment products provide value for money and to identify Insurance Distribution Directive requirements that could be simplified in a future review.
Finally, EIOPA calls on national supervisors to coordinate their work from the outset and share supervisory tools and expertise. It also calls for more consistent supervision of insurers operating across borders through branches or by providing services directly in another Member State. EIOPA suggests considering a power for its Board of Supervisors to adopt directly enforceable measures in exceptional cases where a national supervisor is unable or unwilling to act.
Recommendation: Insurers, reinsurers, occupational pension funds and insurance intermediaries should monitor EIOPA’s simplification initiatives and assess developments relevant to their activities. Particular attention should be paid to the proposed Solvency II reporting changes, the revised proportionality framework and EIOPA’s work under the Retail Investment Strategy and the Insurance Distribution Directive. No further action is required at this stage.
