The decision is based on the evaluation of the work delivered during the first mandate and expectations for the next term.
Fausto Parente, Executive Director of EIOPA, said:
"I am proud to continue to serve EU citizens as EIOPA Executive Director for the next five years. During these challenging times, I am committed to lead the organisation in an efficient and effective way. Together with our dedicated staff, national authorities and stakeholders, I am confident we will continue to make a difference for the insurance and pensions market, supervisory community and most importantly, for the European citizens."
Fausto Parente is the Executive Director of EIOPA since 2016. He was elected by the Board of Supervisors of EIOPA on 28 January 2016 for the first time and confirmed by the European Parliament on 9 March 2016.
During his first term Mr Parente focused on improving internal organisation, successful budget implementation and efficient delivery of the Annual Work Programmes. In addition, during these years there have been important achievements linked to supervisory convergence, prudential and conduct oversight, in stress tests and stability analysis, both for insurance and pension side.