EIOPA pushes to act as central data hub for insurance and pensions sector

Written by Natalie Tuck

20/06/2025

The European Insurance and Occupational Pensions Authority (EIOPA) has called for a centralised approach to insurance and pensions data collection across the EU, warning that "fragmented" national practices are hindering the single market.

In its response to the European Commission’s consultation on the integration of EU capital markets, EIOPA said that it could “act as a central data hub – both receiving from and providing access to all national competent authorities (NCAs) across both the insurance and pensions sectors”.

The authority believes that this would support “greater simplification and consistency”.

Under its vision, EIOPA and the NCAs would be joint data owners within their respective administrative networks.

Its proposals come as it warned that the “increasing volume and complexity of EU legislation – both sector-specific and horizontal – has not been matched by corresponding resources at national or European level”.

It views the single market as a “fragmented landscape” where a complex supervisory framework, limited EU-level oversight, and inconsistent consumer protection across member states continue to “hinder the single market from reaching its full potential” in the sectors it oversees.

On a more positive note, however, it said the single market is "alive and well" for Europe’s (re)insurers.

"Large insurance groups conduct a significant portion of their business across multiple member states: the 20 largest groups alone account for nearly 60% of insurance premia underwritten in the EEA."

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