2014 Stress Tests

1. Launch of EU-wide stress tests Deadline for submission of data to NSAs’ Disclosure of results 2014 Stress Tests Stress Tests April 2014 Overview EIOPA’s 2014 Stress Test was launched on the 30 April 2014. The technical specifications for the insurance stress test and for the Solvency II preparatory phase were published on the same date. The aim of the stress exercise is to test the resilience of insurance undertakings market risk using a combination of historical and hypothetical scenarios. Insurance risk will be tested and, in a follow-up to its Opinion on Supervisory Response to a Prolonged Low Interest Rate Environment, EIOPA will include a low yield element in the stress exercise. Instructions to National Supervisory Authorities (NSAs) regarding the data submission procedures were issued on 11th July 2014. The results of the stress test analysis are expected to be published in November 2014. A number of updates to the Stress Test have been made since the launch of the exercise. These relate to the Q&A document, the Stress Test Specifications, the reporting template and the tool for the generation of risk-free curves. The 8th set of Q&A has been published and a reporting template and an automatic updating tool was provided on 3 July. July 2014 November 2014 Latest News The current anticipated timeline in relation to the 2014 European Insurance and Occupational Pensions Authority (EIOPA) Stress Test is the following: 30 April 2014: Launch of a Europe-wide stress test for the insurance sector;  20 May 2014: Workshop with industry participants; May – June: Q&A procedure for industry participants 11 July 2014: Deadline for submission of undertakings’ data to the national supervisory authorities (NSAs) 31 July 2014: Validation of undertakings’ data by NSAs; August – mid September: Centralized validation of all the submissions by EIOPA; November 2014: Disclosure of the results of the stress test analysis.