EU Insurance Recovery and Resolution Framework

by name voted on 23.04.2024

Summary

A new EU framework for managing failing insurance and reinsurance companies to ensure continuity of service and protect taxpayers.

9 23.04.2024

Report

economy

insurance

administrative law

public administration

business and competition

public finance and budget policy

financial institutions and credit

Key points

The directive establishes a framework for the recovery and resolution of insurance and reinsurance companies to protect financial stability.
Insurance companies must prepare pre-emptive recovery plans to restore their financial position if it deteriorates.
The framework ensures that shareholders and creditors bear losses first before any impact is felt by policyholders.
Authorities are granted specific tools, including selling parts of a business or using bridge companies to maintain services.

Vote

PPE

S&D

Renew

PfE

Verts/ALE

ECR

The Left

NI

ESN

Total

Speeches

1 Speech in total

Pro

Contra

Roberta METSOLA

Roberta METSOLA

PPE

0:30 min

11. Negotiations ahead of Parliament’s first reading (Rule 71)

Documents (PDFs)

PROVISIONAL AGREEMENT RESULTING FROM INTERINSTITUTIONAL NEGOTIATIONS Proposal for a directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU, (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 DRAFT REPORT on the proposal for a directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2009/138/EC, (EU) 2017/1132 and Regulations (EU) No 1094/2010 and (EU) No 648/2012 REPORT on the proposal for a directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2009/138/EC, (EU) 2017/1132 and Regulations (EU) No 1094/2010 and (EU) No 648/2012 Establishing a framework for the recovery and resolution of insurance and reinsurance undertakings

These raw data are provided by the Open Data Portal of the European Union (data.europa.eu) and are licensed under ODC-BY 1.0.