EIOPA Supervisory Statement on Private Equity Investment in (Re)insurers

I. Background / Overview

On 6 October 2026, the European Insurance and Occupational Pensions Authority (“EIOPA”) published a Supervisory Statement on the authorisation and ongoing supervision of (re)insurance entities related to private equity (EIOPA-BoS-26/388) (the “Statement”).

Addressed to national competent authorities, the Statement aims to promote consistent, high- quality and risk-based supervision of private equity-backed (re)insurers across the EU, both at the acquisition stage and on an ongoing basis. The Statement sets out how supervisors are expected to apply the existing Solvency II framework to private equity-related ownership structures and business models.

Convergent expectations across Member States should reduce uncertainty that can arise where national supervisors approach private equity-backed acquisitions differently.

EIOPA expressly recognises that investment by private equity may bring potential benefits to the sector, including a more diverse investment strategy, higher yields, easier access to capital and guarantees that benefit policyholders, and cost optimisation that may support a more efficient and sustainable business. EIOPA also notes that the risks it identifies may apply equally to (re)insurers that are not private equity-owned.

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