Solvency II: The European Commission Reveals Third Country Equivalence Decisions

10 June 2015
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Key takeaways

  • The European Commission has adopted its first third country equivalence decisions under the Solvency II regime.
  • Switzerland has been granted full equivalence for an indefinite period in all areas of Solvency II.
  • Australia, Bermuda, Brazil, Canada, Mexico and the USA have been granted provisional equivalence for solvency calculation purposes only for a period of ten years.
  • Additional jurisdictions will continue to be assessed for Solvency II equivalence with a view to adopt a second set of third country equivalence in the near future.