Tag: Third Country Equivalence

#Brexit: “passporting”, “3rd-country equivalence”, and related issues

The UK’s Treasury Committee has published an FCA letter, and the European Parliament has published a briefing paper, about “passporting”, “third-country equivalence”, and a range of related issues.

Solvency II third-country equivalence – an unexpected fly in the ointment

The European Parliament has published an exchange of letters between the chair of its Economic and Monetary Affairs Committee (Roberto Gualtieri) and the European Commissioner for Financial Stability, Financial Services & the Capital Markets Union (Jonathan Hill). In his letter of 1 April 2015, Gualtieri referred to the Commission’s two Delegated Acts on third-country […]

Solvency II third-country equivalence – nearly there: final step to be taken by the European Parliament

The European Council has decided not to object to the European Commission’s Solvency II third-country equivalence decisions. The Commission’s decisions will become law, if the European Parliament takes the same approach, which seems almost inevitable. In early June 2015, the Commission decided that: Switzerland should be regarded as Solvency II equivalent for group capital calculation […]

European Commission adopts its first Solvency II Equivalence Decisions – a few surprises, and next steps

The European Commission has published its first Solvency II third-country equivalence decisions, and they include a few surprises.

Solvency II equivalence – a report from the 6th Insurance Symposium in Washington DC

I’m in Washington DC today, for the 6th US / EU Insurance Symposium. Like many attendees, I was hoping to hear tales of progress towards an inter-continental “mutual understanding” that would remove trade barriers, and make it easier for (re)insurance groups and reinsurers to operate across the European Union (EU) and the […]

European Council agrees to negotiate with the US about reinsurance

The European Council has given a mandate to the Commission to negotiate an agreement with the United States on reinsurance.

The 6th US / EU Insurance Symposium in Washington DC on 5 May – it would be funny, if it wasn’t so serious

A draft of the agenda for the 6th US / EU Insurance Symposium landed in my in-box a few days ago. I searched it keenly, looking for obvious references to the “Classified: EU restricted”  US / EU Solvency II equivalence negotiations; or at least a public recognition that they’re in hand, and a commitment to finding a solution to this […]