Statement to the Economic and Monetary Affairs Committee of the European Parliament - September 2026
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In her first appearance before the ECON Committee in her second term, EIOPA Chair Petra Hielkema reviews the role of insurance and pensions in the savings and investments union and progress on simplification. She also raises the question of whether cross-border supervision requires more harmonisation or a more centralised approach.
Key points
- Insurers and pension funds hold around €13.7 trillion in assets
- Only around a quarter of natural catastrophe losses are insured
- EIOPA has advised the Commission on insurance guarantee schemes with a common minimum level
- She considers simplification so far only a first stage
Who is affected
Insurers, occupational pension funds, EU legislators
Plain-language version
Petra Hielkema, chair of EIOPA, the EU watchdog for insurers and pension plans, told the European Parliament that insurers and pension funds manage around 13.7 trillion euros. She warned that only about a quarter of losses from natural disasters are insured, and opened the debate on more European-level supervision of cross-border insurance.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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