OPINION OF THE ECONOMIC AND SOCIAL COMMITTEE OF THE EUROPEAN UNION ON AMENDMENTS TO THE SOLVENCY II DIRECTIVE

In accordance with Article 13 of the Treaty on European Union, the main task of the Economic and Social Committee (EESC) is to act in an advisory capacity to the European Parliament, the Council and the Commission. It is an institution that represents the interests of economic and social organizations from various member states of the EU, whose assistance by the above stated institutions is mandatory in areas directly related to its competencies; in addition, the EESC can autonomously publish its expert opinions on various aspects, and on average can issue a total of about 180 opinions each year. 3 2 The EESC is composed of 329 delegates from twenty-seven member states of the EU, classifi ed into three groups - Workers, Employers and Diversity. 4 In the opinion adopted on the 567 plenary session held on 23 and 24 February 2022, the EESC welcomed the Commission’s proposal to improve the content of the Solvency II Directive in legal terms, underlining the considerable interest of civil society in ensuring the stability of the fi nancial sector and calls for sound capital requirements and risk preparedness in the insurance sector.