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Regulatory

OECD, the Organization for Economic Cooperation and Development, in November 2018 issued a new report, The Institutional Structure of Insurance Regulation and Supervision, which presents the results of a stocktaking of the institutional structure of insurance regulation and supervision practices in 50 OECD and non-OECD countries. The report is based on responses to a questionnaire circulated to OECD and non-OECD countries, with cooperation from the International Association of Insurance

Industry body Insurance Europe in October 2018 called for a two-year delay before IFRS 17 comes into force in order to solve remaining issues. IFRS 17 (International Financial Reporting Standard 17) is a forthcoming European accounting standard that substantially changes the way in which premiums, claims, and other components of an insurer’s or reinsurer’s profit and loss statement are reported. It is intended to come into force for annual

The European Commission in August 2018 announced the names of the ten members of its recently established “High Level Group on [supplementary] pensions”. The mission of the group is “to provide policy advice to the Commission on matters related to ways of improving the provision, safety through prudential rules, inter-generational balance, adequacy and sustainability of supplementary (occupational and personal) pensions in light of the challenges in the Union and

E.U. regulator EIOPA (the European Insurance and Occupational Pensions Authority) in July 2018 announced the new composition of the Insurance and Reinsurance Stakeholder Group (IRSG) and the Occupational Pensions Stakeholder Group (OPSG). The two stakeholder groups are renewed every 30 months. The new rosters show a more balanced approach in regard to gender and national diversity as well to a diversity for different types of stakeholders. In total, 16