European Insurance and Occupational Pensions Authority (EIOPA)

Access to the official webpage and the social networks

Overview

• Role: EIOPA is the European supervisory authority for occupational pensions and insurance
• Chair: Gabriel Bernardino
• Executive Director: Fausto Parente
• Members: Representatives of national insurance and occupational pensions authorities
• Established in: 2011
• Number of staff: 140
• Location: Frankfurt am Main (Germany)

EIOPA is part of the European System of Financial Supervision.  It is an independent body providing advice to the European Commission, the European Parliament and the Council of the European Union.

What it does

EIOPA is responsible for:

• helping keep the financial system stable
• ensuring markets and financial products are transparent
• helping protect insurance policyholders, pension scheme members and beneficiaries.

The European System of Financial Supervision comprises:

• European supervisory authorities
• national supervisory authorities

It links financial oversight at systemic and firm level. This leaves day-to-day supervision to the national authorities.

Who benefits

• Consumers:
  • increased transparency, simplicity, accessibility and fairness across the internal market for pensions and insurance
  • consumer representatives can voice their opinions in EIOPA working groups.

• Industry:
  • high-quality, efficient and consistent supervision of EU insurers and occupational pensions
  • EIOPA helps identify, assess, mitigate and manage risks and threats to the financial stability of the insurance and occupational pensions sectors
  • Industry representatives can voice their opinions in EIOPA working groups and stakeholder groups.