The Chair of the Financial Supervision Commission (FSC) Mr. Boyko Atanasov and the Deputy Chairs of FSC – Mr. Vladimir Savov, Head of the Insurance Supervision Department and Ms. Diana Yordanova, Head of the Social Insurance Supervision Department, held an official meeting with Ms. Petra Hielkema, President of the European Insurance and Occupational Pensions Authority (EIOPA).

During the meeting, strategic priorities were discussed in two of the most important directions in the non-banking sector – insurance and pension insurance. The management of the Financial Supervision Commission declared its readiness to cooperate with EIOPA, within committees, taskforces and the implementation of common goals aimed at ensuring financial stability in the insurance and pension sectors.

The FSC expressed its gratitude to the European institution for its constant efforts to increase the expertise of national regulators. Through focused trainings, Commission staff will continue their participation in EIOPA events to improve and expand supervisory capacity.

The two institutions expressed mutual agreement on the common priorities facing them, namely digitization, sustainable finance, effective cooperation within the European Union (EU), financial innovation and consumer protection, as well as working in sync to achieve the – great convergence in the EU on the mentioned topics.

EIOPA, for its part, declared its readiness to be of assistance to national regulators and, in particular, to the needs of the FSC, as well as to assist in the achievement of common EU priorities. Both bodies agreed that with the upcoming Solvency 2 review legislation, the future legal framework for insurers recovery and resolution of insurers (IRRD), digitalisation and sustainable finance, there are new challenges that will be met through the established partnership.

“In 2022, the Financial Supervisory Commission started a new strategic period, and in it we will once again be in favor of consumers, through effective communication, objective decisions and predictable actions. Our meeting today gives us even more confidence, because in EIOPA we have not only a successful partnership, but also shared professional experience”, stated Mr. Boyko Atanasov, Chair of FCS.