Concessions on Solvency II equivalence not followed through in level 2 proposals
Requirements for using deduction and aggregation method to calculate SCR of subsidiaries remain too high, insurers say
The European Commission is under pressure to relax further Solvency II rules on the methods for calculating group solvency for European insurers seeking to benefit from third-country equivalence.
Insurers claim that amendments on equivalence and provisional equivalence in the draft Omnibus II directive are not being followed through in the commission's latest draft level 2 text.
They argue that the level 2 text places obstacles in the way of firms seeking to apply the so-called deduction and
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