Context
This speech was made by Petra Hielkema, Chairperson of EIOPA, at EIOPA’s 2024 Conference in Frankfurt on 21 November 2024. Hielkama addressed some of the priorities in EIOPA’s work, stating that “we live in an increasingly interconnected world, where risks that emerge in one region can rapidly spread and impact economies, industries, and by extension, insurance sectors worldwide.”
Key points to note and next actions
The speech sets out five key imperatives:
- Being robust and resilient in the face of volatility and increasing risks
- Truly living our purpose to protect and provide peace of mind
- Building a market that is fair and inclusive for all consumers
- Becoming adaptive and data-driven in addressing emerging risks, and
- Getting smarter and more efficient to deliver real value.
There are clear similarities between these key imperatives and the FCA’s stated objectives.