European Parliament
Siiri Oviir  (ALDE ),
in writing.
(ET)
I supported the speedy amendment of Directive 2009/138/EC, which extended the deadlines for transposition into domestic law in order to ensure a smooth transition to the new system and avoid a legal vacuum. The amendment of the directive is also important in connection with the European Commission’s proposal of 19 January to take the creation, on 1 January 2011, of the new supervisory system for insurance – the European Insurance and Occupational Pensions Authority (EIOPA) – into consideration in drafting legislation. I think that it is totally reasonable that Solvency II, a modern, risk-based system for the regulation and supervision of European insurance and reinsurance undertakings, should only be launched from 1 January 2014, in order to guarantee high-quality drafting and implementation of the legislation. The new guidelines are an important step towards establishing a strong and secure insurance sector that can offer sustainable insurance products and support the real economy through long-term investments and added stability.

