ABI Conference: Single European insurance regulator likely "within years"

Carlos Montalvo Rebuelta

The European insurance industry will eventually be regulated by a single continental body rather than a number of country regulators, Eiopa’s Carlos Montalvo Rebuelta has claimed.

According to Mr Rebuelta, executive director of the European Insurance and Occupational Pensions Authority, bodies such as the Financial Services Authority could be replaced by an all encompassing regulator for the entire continent "within years".

Speaking at the Association of British Insurers Biennial Conference, Mr Rebuelta claimed that while a European super regulator would still face some of the issues dealt with by domestic bodies it is still a possibility.

"Even if you move you to a single regulator in Europe it will not solve all the problems. I cannot put a precise timeline on it but I think we are moving towards that," he said.

He added: "I understand the merits of having it - not only in insurance. It is like little children, first they sit, then they crawl than they walk. We are basically starting to crawl. Let us walk."

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe

You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.

FCA’s premium finance conundrum: act or step back?

Editor’s View: With falling premiums, a stalled government motor insurance taskforce, and jittery markets, Emma Ann Hughes wonders if no action is now the most likely outcome of the Financial Conduct Authority’s premium finance market review.

Insurance complaints take a slight dip

The Financial Conduct Authority’s latest data has shown insurance and pure protection complaints decreased 6% from 764,272 in the first half of 2024 to 718,496 in the second half.

Solvent exit planning: a crucial step for insurers

While the regulator has postponed the implementation date for the solvent exit planning rules for insurers to 30 June 2026, Sarah Ouarbya, partner for risk consulting and regulatory compliance at Forvis Mazars, warns providers shouldn't put off producing comprehensive and well-documented plans.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here