US equivalence "impossible" in forseeable future - Allianz CRO

CRO says lack of market consistency will prevent regime being granted equivalent status under Solvency II - and this will lead to European companies being disadvantaged

The US cannot be granted equivalence under the European Solvency II directive, and this will lead to a competitive disadvantage for European insurance groups, according to Tom Wilson, chief risk officer for Allianz.

The lack of a market-consistent framework regulatory framework in the US ishe principal driver stopping the regulatory regime obtaining the preferential regulatory treatment, rather than its state-based organisation and absence of a national regulator, according to the CRO of the