Kontaktperson

: Henrik Bjerre-Nielsen, tlf. 33 55 83 13

CEIOPS, Committee of European Insurance and Occupational Pensions Supervisors, har udsendt følgende pressemeddelelse om sit første møde:

CEIOPS Press release

10 February 2004

First plenary meeting of the Committee of European Insurance and Occupational Pensions Supervisors

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) held its first first plenary meeting on 4 February 2004.

The CEIOPS Chairman Henrik Bjerre-Nielsen said:

"This first meeting of the fully established CEIOPS following its legal creation by an European Commission decision last November marks an important stage in the Committee's development. The Committee will have a key role in the effective implementation within the EU of insurance and pensions related legislation, especially in relation to the upcoming Solvency II Directive. Several major topics were discussed, both regarding the organisation of the Committee and its substantial work."

Composition and Role of the CEIOPS

The CEIOPS is composed of high level representatives from the insurance and occupational pensions supervisory authorities from Member States of the European Union.

It performs the functions of the Level 3 Committee for the insurance and occupational pensions sectors in applying the "Lamfalussy" Process. It will also continue to fulfil the tasks of the former Insurance Conference as a forum of co-operation and information exchange between insurance and occupational pensions supervisors.

The CEIOPS will:

- Advise the Commission, either at the Commission’s request or on the Committee’s own initiative, in particular as regards the preparation of draft implementing measures in the fields of insurance, reinsurance and occupational pensions.

- Contribute to the consistent implementation of EU Directives and to the convergence of Member States’ supervisory practices throughout the Community.

- Constitute a forum for supervisory co-operation, including the exchange of information on supervised institutions.

- Deal with convergence in the supervision of insurance companies and occupational pension funds.

This role involves, in particular, the drafting of implementation measures ("Level 2" measures, in the frame of the Lamfalussy Process) for the implementation of the directives on insurance and occupational pensions, and establishing guidelines and standards ("Level 3" measures) in the areas that are not subject to harmonised European Legislation. It also involves the participation of the CEIOPS to the work of different European institutions in charge of issues relating to insurance and occupational pensions, in particular the Economic and Financial Committee and the Financial Services Committee

Work of the CEIOPS

At its meeting, the CEIOPS discussed the main issues on which it is currently working. In particular the Committee decided the creation of several working groups on its main subjects of studies:

-         5 working groups were created in order to study the different aspects of the Solvency II exercise (life and non-life (pillar I), supervisory review (pillar II), disclosure/accounting (pillar III) and cross sectoral issues) in which the Committee will provide advice to the European Commission and draft Level 2 measures to implement the future Solvency II directives.

-         A working group on occupational pension issues was created. It will in particular have to examine the inclusion of the occupational pensions supervisors in the protocols organising the co-operation and information exchange between supervisors for the implementation of the IORPs Directive.

In addition to these new working groups, a working party of the CEIOPS is studying matters related to financial stability and insurance. It will set up a monitoring tool allowing assessment of the situation of the insurance market in Europe, and prepare the work performed by the CEIOPS on the request of the European institutions studying financial stability issues (Economic and Financial Committee, Financial Services Committee).

A working group is also studying the issues raised by the implementation of the so-called Helsinki Protocol, which organises the co-operation between supervisors for the implementation of the Directive on 98/78 on the supplementary supervision of insurance undertakings that belong to an insurance groups.

Organisation of the Committee

At its meeting the CEIOPS endorsed the decision taken by the Ecofin Council on 20 January to locate its Secretariat General in Frankfurt/Main. This decision allows the creation of CEIOPS an independent legal entity. The Secretariat of the former Conference of Insurance Supervisory Authorities of the European Union, then of the CEIOPS, had been provided by the French Delegation since 1958 and is located in Paris.

The next steps in the practical organisation will be the formal establishment of CEIOPS becoming a legal person in Germany, the appointment of a Secretary General and a Deputy Secretary-General and all other measures that are necessary to make the new Secretariat fully operational by 1 July 2004.

The CEIOPS will meet at least 3 times a year. The next meeting will be held in Brussels on 29 June 2004. Starting in 2005, 2 meetings will be held at the location of the Secretariat in Frankfurt. The venue of the third meeting is to be decided.

The CEIOPS also adopted its first budget, which will initially cover the financial needs for the second half of 2004.

The Chair and Vice-Chair of the CEIOPS are elected for 2 years. They are assisted by 3 additional members, also elected for 2 years, forming the Bureau of the CEIOPS.

The Bureau is presently chaired by Mr. Henrik Bjerre-Nielsen (Denmark). The Vice-Chairman is Mr. Thomas Steffen (Germany). The other members of the Bureau are Mrs Florence Lustman (France), Mr. John Tiner (United Kingdom) and Mr. Michel Flamée (Belgium).

The Secretariat of the CEIOPS will be located in Frankfurt following the decision of the Ecofin of 20 January. It is assisted by an international virtual Secretariat. Until the practical implementation of this decision (July 1st at the latest), the Secretariat will remain in Paris.

CEIOPS Consultative Panel

In order to fulfil the transparency requirements of the Lamfalussy Process, the CEIOPS is required to consult extensively and in an open and transparent manner with providers of insurance and occupational pensions funds products, market participants, consumers and end-users.

As an element of the response of the Committee to these requirements, the constitution of a consultative panel of experts from the industry, end users and consumers was started after the meeting of the then "Interim" CEIOPS in Athens in October 2003. At the 4 February meeting the CEIOPS reviewed candidates proposed by the European associations representing these different categories and the following candidates were approved:

Mr. Gérard DE LA MARTINIERE Mr. Dario FOCARELLI Mr. Rolf-Peter HOENEN	CEA (Comité Européen des Assurances)
Mr. Jaap MAASSEN Mr. Peter THOMPSON	EFRP (European Federation for Retirement Provision)
Mr. Lars OHMAN	ACME (Association des Assureurs Coopératifs et Mutualistes Européens )
Mr. Esteban TEJERA MONTALVO	AISAM ( Association Internationale des Sociétés d'Assurance Mutuelles)
Mr. Paul CARTY	BIPAR (Bureau International des Producteurs d'Assurances et de Réassurances )
Mr. Mick MC ATEER Mr. Jean-Paul COTEUR	BEUC (Bureau Européen des Unions de Consommateurs)
Mr. Jean-François ENGELS	UEAPME (Union Européenne de l'Artisanat et des Petites et Moyennes Entreprises)
Dr. Rolf STÖLTING	Groupe Consultatif Actuariel Européen
Dr.Gerd GEIB	FEE (Fédération des Experts comptables Européens)

In order to further enhance the overall balance of the panel, it has been decided that up to 3 additional members will be appointed to the panel. The final composition of the panel is therefore still under discussion, and should be finalised in the coming months. The members of the panel are appointed on a personal basis. The Panel should meet for the first time in June 2004, back to back with the plenary meeting, and it will allow the CEIOPS to have quality advice on its work from the point of view of the industry, end users and consumers.

In addition to the creation of the consultative panel, CEIOPS is also organising arrangements to ensure a proper public consultation on its documents. In particular, the development of a Web site, which had been previously made difficult due to the uncertainty of the location of the Committee, is seen as a priority.

Oprettet d. 24.07.2003 og sidst redigeret d. 11.02.2004

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