The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA), following an open selection process, has appointed the members of its Insurance & Reinsurance (IRSG) and Occupational Pensions Stakeholder Groups (OPSG).
Seamus Creedon and Philip Shier, members of the Society of Actuaries in Ireland, were nominated by the Groupe Consultatif and have been appointed as members of the IRSG and the OPSG respectively.
Stakeholder Groups are an important part of EIOPA’s governance as they help to analyse and assess the impact of EIOPA’s activities from different angles and perspectives. They ensure a close dialogue of EIOPA not only with consumers, employees’ representatives, users of (re)insurance services (for IRSG), beneficiaries of pension schemes (for OPSG) and academics, but also with industry, SMEs and relevant professional associations.
The efforts of EIOPA to raise awareness across the EU about the selection process resulted in 20 EU Member States being represented in both groups. Out of 30 members, besides the delegates from industry and professional associations, the IRSG will now contain 6 consumers’, and 3 users’ and employees’ representatives. The OPSG will comprise 5 beneficiaries’ and 5 employees’ representatives. 5 members of each Stakeholder Group are independent academics. In view of the applications received, the new composition also guarantees a good gender balance: 33% of female members in both IRSG and OPSG.
10 (IRSG) and 14 (OPSG) members have been involved in the previous Stakeholder Groups, which helps to ensure business continuity, to maintain a core know-how and, at the same time, to guarantee new thinking within the groups.
Gabriel Bernardino, Chairman of EIOPA, said: “I would like to extend a warm welcome to the newly appointed members and to thank the former members for their devotion and very valuable contributions. During those two and a half years, they did a really great job!
We are confident that, under the new composition, the Stakeholder Groups have the right professional expertise to provide feedback on all EIOPA’s activities. The diversity of interests represented within the Stakeholder Groups is crucial for the practical implementation of EIOPA’s mandate - to ensure financial stability and consumer protection in the EU”.
The first meetings of the Stakeholder Groups in the new composition will take place on 22 October 2013 (IRSG) and 24 October 2013 (OPSG), followed by a joint meeting with EIOPA’s Board of Supervisors on 26 November 2013. The lists of EIOPA Stakeholder Groups members can be viewed on EIOPA website: