Following Brexit, legislation adopted at EU level no longer has direct influence over UK laws and regulations. However, we continue to monitor developments in the European Commission, the Parliament and the Council for their potential impact on Lloyd’s Europe.
Solvency II applied to EU insurers and reinsurers from 1 January 2016.
EU Financial Supervisory Structure
Financial supervision in the EU looks at macro- and micro-prudential supervision at Community level.
The Insurance Mediation Directive contains requirements for EU Member States’ regulation of insurance intermediaries. The new Insurance Distribution Directive enhances this regulation, with a particular focus on practices for selling insurance products.