European Commission draws up new list of countries for Solvency II equivalence
Decision on Bermuda, Japan and Switzerland equivalence to be taken once Level 2 measures agreed
The European Commission is drawing up a list of countries that may qualify for equivalence with Solvency II. It will also decide on the equivalence of the regulatory regimes of Bermuda, Switzerland and Japan during the first half of 2013.
Jonathan Faull, director-general, internal market and services at the Commission, said 16 countries had been identified that could meet equivalence requirements in the future and that might take part in a transitional regime for Solvency II equivalence.
The
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