Date: 30th November 2022
Author: Better Finance

"BETTER FINANCE together with ShareAction, the German Association of the Insured BdV, Urgewald and WWF European Policy Office react to the Solvency II review on related sustainability requirements.

Solvency II, the legislative framework for EU insurers, is currently under review. Solvency II, introduced in 2016, laid the foundations for a harmonised, sound, and robust prudential framework for insurance firms in the EU. It is based on the risk profile of each individual insurance company while ensuring overall comparability, transparency and competitiveness.

We agree with the Commission that the insurance sector should play a role in achieving the targets of the European Green Deal. This is why we call on the European Parliament and Council to make essential improvements to Solvency II, which will secure a sustainable future for insurers – and for society at large.