The European Insurance and Occupational Pensions Authority’s (EIOPA) work is “far from over”, EIOPA chairperson, Petra Hielkema, has argued, noting that challenges ahead, including climate change and digital transformation, demographic decline and a new world order on its way, "demand continued commitment, innovation and unity”.

Speaking at EIOPA’s Annual Conference today, 29 January, in Frankfurt, Hielkema underscored the uncertainty shaping today’s global landscape, driven by geopolitical tensions and economic uncertainty.

“We are living through an era of profound uncertainty, shaped by intensifying geopolitical tensions, economic vulnerability, technological upheaval, and enormous environmental challenges. Yet, given the start of 2026, this seems to be an understatement,” she said.

“Current geopolitical tensions are serious and concerning, and this has an impact on the daily lives of ordinary citizens, on member states and on the European Union (EU). An EU that needs to be more independent, that needs to be more resilient, and that needs to be more digital than it is today.”

In light of today marking 15 years since EIOPA was founded and the current challenges being faced, Hielkema looked back at the challenges that the European pension and insurance sectors have faced in the past 15 years.

She highlighted the implementation of Solvency II and observed that when it came into effect, “it marked a seismic shift in the way we assess and manage risk” and “helped build a new culture of risk management, transparency and accountability across the entire sector”.

“Since then, through successive crises – from the Covid-19 pandemic to recurring geopolitical tensions – the insurance and pension sectors have proven their resilience, thanks in no small part to the robust frameworks we have built together,” she noted.

She said that this resilience and EIOPA’s work “is very relevant today”, underscoring “if we want a strong single market, if we want to support a strong EU in a fragmenting world – we need to play our part and work together to deliver on the mandate we have”.

However, Hielkema argued that the pension and insurance sectors have a “good starting point”.

“Insurance and pensions are, in many ways, the cornerstone of societal resilience and economic stability. They protect individuals, families and communities from life’s uncertainties,” she said.

Yet, Heilkema warned that supervision is not just about systems but about people and “ensuring that every European citizen can trust their insurance and pension products”.

She went on to argue that supervision was also about building not just resilient pension and insurance sectors, but sectors that are “thriving, dynamic, inclusive, sustainable, and fit for the challenges of tomorrow”.

“As we move forward, let us do so with the same spirit of cooperation, ambition and determination that has brought us this far. Together, we will continue to protect people and promote a more dynamic, inclusive market, ensuring that EIOPA remains a driving force and strong voice for the insurance and pension sectors globally,” she concluded.

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