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In brief

On 18 December 2020, the EIOPA (European Insurance and Occupational Pensions Authority) released a communication recommending insurance undertakings to maintain extreme caution in dividend distributions, share buy-backs or variable remunerations. These operations should not exceed thresholds of prudency and institutions should ensure that the resulting reduction in the quantity or quality of their own funds remains at levels appropriate to the current levels of risk.


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Author

Eugenio Muschio handles the regulatory and debt capital market work in Italy. He has extensive experience in the financial, banking and insurance sectors, as well as in capital markets transactions, with a particular focus on the debt sector (EMTN, standalone bonds, liability management, both domestic and Euro market).