Press Release | 08

Press Release EIOPA ISSUES PRINCIPLES ON SUPERVISORY RELOCATIONS FROM THE UNITED KINGDOM x x x Contact: Jerneja Orthmayr Phone: +49(0)69951119350 press@eiopa.europa.eu APPROACH TO THE The Opinion is setting out principles to foster supervisory convergence and to ensure consistency in the authorisation process related to the relocation of (re)insurance undertakings from the United Kingdom The principles include granting authorisation and approvals, governance and risk management, the outsourcing of critical and important activities and the ongoing supervision as well as monitoring by EIOPA The Opinion is addressed to national supervisory authorities, in particular to those of the 27 Member States that remain in the European Union Frankfurt, 10 July 2017 ±the European Insurance and Occupational Today, Pensions Authority (EIOPA) published an Opinion with the aim to foster supervisory convergence and consistency in the authorisation process across the European Union Members States related to the relocation of (re)insurance undertakings from the United Kingdom. The Opinion is addressed and providing guidance to the national supervisory authorities, in particular to those of the 27 Member States (EU27) remaining in the European Union, linked with the authorisation process and on-going supervision of undertakings regulated under Solvency II.