As the revised Solvency II framework moves closer to its 30 January 2027 implementation date, the European Commission and EIOPA continue to publish consultation papers to clarify and refine technical aspects of the regime.

Arising from the Solvency II 2020 review, the European Parliament formally adopted amendments to the Solvency II Directive in April 2024. Building on this, the European Commission published the finalised amendments to the Delegated Regulation underpinning the Directive in October 2025.

After the amendments to the Solvency II Directive, we expect the immediate transitional impact on Solvency II ratio levels to be manageable.