Answer given by Lord Hill on behalf of the Commission
As explained in the reply to Written Question E-009958/2014, the new harmonised regulatory regime for insurance in the European Union, known as Solvency II, will apply from 1 January 2016. Until then, it remains the case that national regulation and supervision of insurers under the current Solvency I regime varies between Member States.
One of the tasks of the European Insurance and Occupational Pensions Authority (EIOPA) is to bring about more consistent supervision which should itself increase consumers' trust in insurance supervision in the EU. This work will be enhanced once Solvency II is applied.