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EstoniaFinantsinspektsioon

Insurers get new undertaking-specific-parameters rulebook from 11 November

EIOPA's new undertaking-specific-parameters guideline applies as an FI recommendation from 11 November 2026; the 2016 guideline is repealed the same day.

By Taxxa AI OyPublished 11 November 2026

Financial Sector & Markets

Industry: Insurance · Reinsurance

Estonian insurers and reinsurers that calculate their solvency capital requirement with undertaking-specific parameters work under a new rulebook from 11 November 2026FI. Finantsinspektsioon's guideline page carries the European guideline EIOPA-BoS-25/249 on undertaking-specific parametersFI (Suunis eesti keeles, Suunis inglise keeles), adopted on 25 June 2025, with Jõustumise aeg 11.11.2026 alongside the Juhatuse otsus, and its 2016 undertaking-specific-parameters guideline stands repealed (Kehtetu alates 11.11.2026) from the same day. The new guideline replaces the earlier European guideline EIOPA-BoS-14-178FI and is linked to Article 104(7) and Articles 110, 111, 230 and 248(2) of Directive 2009/138/EC, to Articles 218, 219, 220, 338 and 356 of Commission Delegated Regulation (EU) 2015/35 and to Commission Implementing Regulation (EU) 2015/498. The guideline text addresses solo undertakings and the group capital calculation.

Expert judgment has a bounded role. Undertakings may use expert-judgment assumptions solely to adjust existing data, never to substitute for missing data, and only where the adjusted data better meets the Article 219 criteria, demonstrable on request.

Historical data must be cleaned before use. Undertakings should adjust past data to strip out risks immaterial over at least the next 12 months, maintain internal rules to identify catastrophe-driven losses and adjust data under Annex XVII of the delegated regulation, and reflect changes in non-proportional reinsurance retentions affecting technical-provision volatility. When computing non-proportional reinsurance adjustment factors, both the gross next-12-months data and the data without non-proportional reinsurance must meet those same disciplines.

Approval is monitored continuously, not once. Undertakings should track their compliance with the parameter-use requirements within their own-risk and solvency assessment and, as part of the supervisory report on that assessment, notify supervisors of material changes to the application information with relevant details. If they learn that another standard method would meet the Article 101(3) calibration requirement more accurately, they should file a fresh application for that method.

Breaches follow a fixed escalation. Where the requirements are not met, the supervisor decides whether to grant a three-month deadline to restore compliance, weighing the degree and scope of the breach, the time needed and the planned measures. If compliance cannot be restored within three months, the supervisor revokes the parameter-use approval under Article 6(a) of Implementing Regulation (EU) 2015/498.

Significant deviations under Article 110 turn on supervisory-review conclusions, the nature, type and size of the deviation, the likelihood and severity of harm to policyholders and beneficiaries, assumption sensitivity and expected duration and volatility, analysed per segment.

Group applications get their own track. A group-parameter application must carry at least the information Implementing Regulation (EU) 2015/498 requires for solo applications, reading entity references as group references, with more supplied where the group supervisor reasonably asks. Group parameters may be used only on consolidated data under the prescribed methods, and the group supervisor and the college weigh data representativeness, are informed of applications, approvals and the main reasons for rejections, and the group supervisor considers solo-application decisions before ruling on the group request.

Undertakings using or seeking undertaking-specific parameters should adjust their data and monitor their compliance within their own-risk and solvency assessment under the new guideline applicable from 11 November 2026.

Legal basis: Directive 2009/138/EC Articles 104(7), 110, 111, 230 and 248(2), with the Article 101(3) calibration requirement referenced for method accuracy; Regulation (EU) No 1094/2010 Article 16; Commission Delegated Regulation (EU) 2015/35 Articles 218, 219, 220, 338 and 356, with group data computed under Article 335(1)(a) to (c); Commission Implementing Regulation (EU) 2015/498, which governs the supervisory approval procedure; EIOPA-BoS-25/249 adopted 25 June 2025, replacing EIOPA-BoS-14-178; Finantsinspektsioon recommendatory guideline with entry into force 11 November 2026FI, superseding its 2016 undertaking-specific-parameters guideline repealed from 11 November 2026.

If you use or seek undertaking-specific parameters, adjust your data and monitor compliance within your own-risk and solvency assessment under the new guideline applicable from 11 November 2026.

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