Union-wide Strategic Supervisory Priorities 2027-2029 (European Insurance and Occupational Pensions Authority)

Summary

• EIOPA established the Union-wide Strategic Supervisory Priorities for the 2027-2029 cycle pursuant to Article 29a of Regulation (EU) No 1094/2010.p.2
• The 2027-2029 cycle is grounded in EIOPA's Strategy towards 2030 to strengthen societal resilience in Europe.p.2
• The framework establishes 2 strategic priorities covering prudential resilience and conduct risks for national competent authorities.p.4
• Focus Area 1 for 2027 addresses continuity and contingency planning, including digital operational resilience and DORA compliance.p.5
• Focus Area 2 for 2027 focuses on supporting societal resilience by mitigating conduct risks in business models and distribution.p.6

Key insights

1. The USSP is an instrument established in Article 29a of Regulation (EU) No 1094/2010 to foster a common Union supervisory culture.p.2
2. The EEA insurance sector faces shifting risks from cyclical financial pressures toward structural, systemic, and technology-driven vulnerabilities for 2027-2029.p.2
3. Claims inflation exceeding premium growth in certain retail lines is creating medium-term profitability pressures for insurance undertakings.p.3
4. Cyber risk represents both an operational threat and a material underwriting exposure that could have cross-sectoral systemic impacts.p.3
5. EIOPA identified two core strategic priorities for 2027-2029 encompassing both prudential and conduct dimensions.p.4
6. In 2027, competent authorities will monitor compliance with DORA and the allocation of resources to secure ICT systems.p.5
7. Supervisors will monitor the evolution of digital distribution mechanisms, including the use of AI chatbots in insurance distribution.p.6