1. Sandra Desson IRSG meeting on 15 September 2016
Agenda Item 7: Group supervision and colleges of supervisors Future outlook and plans for 2017
Sandra Desson
IRSG meeting on 15 September 2016

2. Introduction Issues Action asked from IRSG Follow-up
What is EIOPA’s ambition towards colleges?
How to turn ambition into reality?
What is EIOPA’s approach towards colleges in 2017?
Action asked from IRSG
Please provide input and suggestions
Follow-up
Deadline for input from IRSG: 30 September 2016
Revised approach for colleges finalised by the end of 2016

3. Development of colleges: 2011-2016
There is a high degree of internationalisation in the insurance sector, even higher than in banking, emphasizing the importance of the supervision of cross-border insurance groups and colleges of supervisors.
information exchange
Regular information Exchange started under SI
Information exchange under SII agreed in the Coordination Arrangements
cooperation
Colleges set up and working methods established under SI
Basic procedures on cooperation agreed in the Coordination Arrangements
coordination
Coordination of work or follow up of risk assessment
Coordination of execution of action plan for Colleges by Group Supervisor
Coordination of input to group risk assessment
Aligned decisions
Shared view on risk assessment
Agreement on the college workplan and the coordination arrangement
Joint decisions taken in relation to art. 231 internal models
Shared work
Few joint on-site inspections

4. EIOPA’s ambition for
Assuring a proper and high quality application of group supervision, as well as, detecting, discussing and assuring level playing field through colleges in its application.
Earlier detection of a crisis or less costly crisis resolution using the risk assessment in context of group supervision.
Further maturing of colleges surfacing whereby supervisors increasingly combine their forces to interact with centrally managed large insurance groups.

5. Themes for Colleges 2017 – a fully integrated approach
Improve the functioning of the EU internal market in the field of pensions and insurance
EIOPA strategic objectives
I. Effectiveness, efficiency and impact of information exchange and joint risk assessment in colleges
II. Robustness and reliability of the Solvency II balance sheet
EIOPA strategic objectives
Strengthen the financial stability of the insurance and occupational pensions sectors
Strengthen consumer protection
Consideration of the specific needs of the colleges -> single risk-based college workplan

6. What questions are we asking?
What is the ambition of the representatives in the stakeholder group regarding colleges in the next 4 years?
Are there topics regarding the inconsistent application of groups supervision that the IRSG would like EIOPA to address in the forthcoming years in colleges?
In relation to 2017
What kind of risks should be discussed in the colleges in 2017?
What topic in the context of the theme for 2017 ‘robustness and reliability of the Solvency II balance sheet’ should appear on the majority of the college agenda’s?