Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Bermuda and Switzerland first to be assessed for SII equivalence

15 July 2010

Bermuda and Switzerland - favoured domiciles for many international (re)insurers - are first on European regulators' list for granting Solvency II equivalence to non-EU countries.

If they achieve equivalence it could create a comparatively reduced compliance and capital burden for (re)insurers domiciled in those countries.

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) identified in draft advice published yesterday (15 July) that among 50+ jurisdictions, Bermuda, Switzerland and the US are the most important.

Japan and Barbados have...

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