Equivalence is on agenda for Frankfurt meeting
Broker associations want the new authority to take a fresh look at regime
Last week Eiopa reported that Japan meets the criteria for equivalence assessment under Solvency II, but with certain caveats. Kunihisa Kawasaki describes the steps Japan has taken to update its risk-based capital insurance framework but says the country can't just "cut and paste" Solvency II.
Perhaps with an eye on the captive insurers in European locations concerned at forthcoming Solvency II regulations, as well as on the exploding demand for financial services in the Gulf, Qatar has launched an ambitious bid to become a base for captives. Lorna Davies assesses its chances of success.
Bermuda's bid for "equivalence" with Europe under Solvency II has generated regulatory moves that are similar to those in the directive. Ahead of the results of Eiopa's assessment of the island's insurance regime, Lorna Davies gauges opinion in Bermuda.
While Switzerland, the US and Bermuda are seen as the most important countries in terms of equivalence with Solvency II, other jurisdictions are also pressing ahead in developing similar risk-based regulation. Lorna Davies reports.