- Final text of the Solvency II Directive, as adopted by the Council on 10 November 09
- The Commission has updated the List of Policy Issues and Options for the Level 2 Impact Assessment of Solvency II to reflect on-going discussions regarding the development of Level 2 implementing measures.
- Letter of Director-General Jörgen Homquist to CEIOPS
In June 2009, the Commission wrote to CEIOPS regarding the timetable for the development of Level 2 implementing measures
- Letter of Director-General Jörgen Holmquist to CEIOPS
- Annex 1 – updated timetable
- Annex 2 – updated list of implementing measures
- Annex 3 – content and structure of CEIOPS advice
- Call for advice (for the Impact Assessment of the Level 2 Implementing Measures)
- List of policy issues and options for the Level 2 Impact Assessment of Solvency II
- Letter of CEIOPS’ Chair Dr. Thomas Steffen to Jörgen Holmquist
The Commission has also appointed Deloitte to conduct an external study assessing the potential impact of implementing measures, with a special focus on the areas of mass risks, health insurance, long-term savings, business to business insurance and administrative costs. The report will be presented as an appendix to the impact assessment on the Level 2 implementing measures.
After intensive negotiations between the Commission, the European Parliament and the European Council, the three institutions agreed on a compromise text for the Solvency II Framework Directive that was adopted by the European Parliament’s plenary session on 22 April 2009.
ECOFIN subsequently acknowledged the Parliament’s positive vote on 5 May 2009.
In order to take account of the adoption of Directive 2007/44/EC of the European Parliament and of the Council of 5 September 2007 amending Council Directive 92/49/ EC and Directives 2002 83/EC, 2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of holdings in the financial sector as well as the adoption of the so-called Rome I Regulation on the law applicable on contractual obligations the Commission adopted an Amended Solvency II Proposal on 26 February 2008.
Following completion of the consultation process, the Commission adopted the Solvency II Proposal in July 2007:
- Press release
- Proposal COM (2007) 361
- Impact Assessment Report
- How to read the proposal for a Directive?
The Commission also wrote to CEIOPS regarding the subsequent phases of the project.