The European Commission have recently adopted a review of Solvency II. The review largely follows EIOPA’s proposals, as set out in their Opinion from December 2020.
The three-pillar structure of Solvency II will be familiar to many, with the different pillars representing the main areas covered by the regulations. The legislation and documentation which makes up Solvency II is detailed and complex. With many elements in play it can be difficult to understand how all the pieces fit together.