The European Commission on 7 July 2026 issued a corrigendum to Delegated Regulation (EU) 2019/981, which amends the Solvency II framework, correcting linguistic and technical errors in the Slovene language version of the text. The corrections aim to ensure legal clarity and consistency in risk classification, capital calculation, and exposure definitions for insurers and reinsurers.
The corrigendum addresses several provisions. Recital 31 is corrected to replace 'relative thresholds of exposure' with 'relative thresholds of excess exposure' and 'individual exposures' with 'exposures to individual entities'. Article 1(7)(a) and (b) are amended to correct the Slovene term for 'underlying assets' in the context of collective investment undertakings. Article 1(18) revises the simplified calculation for loss given default by replacing 'groups of individual exposures' with 'groups of exposures to individual entities'. Article 1(35) corrects the Slovene term for 'underlying assets' for equity securities held in collective investment undertakings. Article 1(40) replaces 'individual exposure' with 'exposure to individual entity' for reducing exposure at default.
These corrections reduce ambiguity for insurers and reinsurers, potentially requiring updates to internal models and reporting systems to align with the corrected terminology. The enhanced regulatory precision may influence supervisory practices and compliance costs, though the impact is expected to be limited as the changes are technical in nature. No prior coverage of this corrigendum exists in the available record.