The road to US Solvency II equivalence will be a difficult one
The US Solvency Modernisation Initiative places the country in an encouraging position for Solvency II equivalence, but there are hurdles ahead. Thomas Whittaker reports
As the world’s second largest insurance market, the US should be enjoying a soft ride when it comes to Solvency II equivalence, particularly as it possesses a developing risk-based solvency regime that would see it become a highly suitable candidate for the process. But the road to equivalence may be a bumpy one for the US.
Following a number of years of cold relations between the US and the European Union (EU), observers say the financial crisis has ‘broken the ice’ between the two parties. Yet
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