EIOPA is part of the European System of Financial Supervision consisting of three European Supervisory Authorities and the European Systemic Risk Board.
It is an independent advisory body to the European Parliament, the Council of the European Union and the European Commission.
EIOPA’s core responsibilities are to support the stability of the financial system, transparency of markets and financial products as well as the protection of insurance policyholders, pension scheme members and beneficiaries.
EIOPA is based in Frankfurt am Main, Germany.
Since the publication of EIOPA’s last Financial Stability Review in July 2013, the core
elements of the risk environment facing EU insurance undertakings and occupational
pension schemes has remained largely unchanged.
The reporting season showed relative resilience in the profitability and solvency of EU insurance undertakings, but the latent risks facing the sector cannot be ignored.
There is no cause for complacency. The main risks, namely,
1. the low yield environment,
2. the weak macro-economic climate and
3. credit risk from exposure to sovereigns and financial institutions
remain mostly unchanged.