Amendments to the Solvency II Directive
TA-9-2024-0295 · P9_TA(2024)0295 · PE732.668
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Parliament adopted its first-reading position on a directive amending Directive 2009/138/EC on insurance and reinsurance (Solvency II). The amendments cover proportionality, supervision quality, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks, and group and cross-border supervision.¶¶¶ The directive also amends Directives 2002/87/EC and 2013/34/EU. Parliament calls on the Commission to refer the matter back to it if the proposal is replaced or substantially amended.¶
Key points
- Parliament adopts its position at first reading on the proposed directive amending Directive 2009/138/EC.¶
- The amendments concern proportionality, quality of supervision, reporting, long-term guarantee measures, macro-prudential tools, sustainability risks, and group and cross-border supervision.¶¶
- The directive also amends Directives 2002/87/EC and 2013/34/EU.
- Parliament calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal.¶
Who is affected
Legal basis: Article 294(2) and Article 53(1), Article 62 and Article 114 of the Treaty on the Functioning of the European Union.¶