PROPOSED AMENDMENTS TO DIRECTIVE SOLVENCY II

In September 2021, the European Commission proposed a set of amendments in insurance relating to the Directive 2009/138/EC, better known as Solvency II. The Directive is the gold standard in insurance sector which goes beyond the borders of the European Union. 2 Proposal for its amendments followed after one year of consultation with an expert body in the field of European insurance - EIOPA (European Insurance and Occupational Pensions Authority), whose recommendations were influenced by the escalation of the current pandemic crisis, which seriously disrupted macroeconomic and market conditions. This paper will briefly present possible outcomes of the adoption of these proposals.