Dear Guest! If you find an error on the page or you have any technical question please call the customer service center. Phone number is 06-80-203-776. The Central Bank of Hungary.

EIOPA reinforces supervisory cooperation in cross-border activities


  • ncreased cross-border activities require the reinforcement of the cooperation between National Competent Authorities
  • Close and timely collaboration is crucial to achieve consistent supervisory practices and to build a common European supervisory culture

Frankfurt, 16 February 2017 - Today, the European Insurance and Occupational Pensions Authority (EIOPA) published a Decision on the Collaboration of the Insurance Supervisory Authorities from all the European Union Member States in line with the requirements laid down in the Solvency II Directive.

The Decision further strengthens and enhances the cooperation between the National Competent Authorities (NCAs) especially in relation to cross-border activities through information and data exchange in areas such as authorisations, recovery plans and complaints-handling systems using efficiently the centralised database managed by EIOPA. This reinforced cooperation is fundamental for the conduct of supervision and for achieving consistent supervisory practices and by that enhance preventive consumer protection and preserving financial stability across the European Union.

Gabriel Bernardino, Chairman of EIOPA, said: “Increased cross-border activities in the internal market and the growing internationalisation of business activities show that a strong, close and timely collaboration between insurance supervisory authorities is needed. This Decision is

fundamental in reinforcing this collaboration and in building together a common European supervisory culture.”

The Decision will enter into force on 1 May 2017. EIOPA will continue to monitor the implementation of the Decision, and will use its tools to ensure a consistent application across the European Union.

This website uses cookies to provide a more convenient browsing experience. By using this website, you accept the use of cookies. Please read our Cookie Guidelines, for more information on cookies, including information on how to disable or delete them.I accept

Please be informed that our Data Protection Guidelines were changed to be compliant with data protection laws.I understand