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The European Insurance and Occupational Pensions Authority (EIOPA) invites market participants and (re)insurance stakeholders to provide their feedback on its draft Advice to the European Commission (EC) regarding the full equivalence assessments of Bermuda, Japan and Switzerland.
EIOPA’s Advice is expected to allow the EC to take informed decisions in 2015 on whether solvency and prudential regimes in Bermuda, Japan and Switzerland are equivalent to the Solvency II framework. The Solvency II equivalence criteria are based on the overarching principles of Solvency II and include requirements relating to the system of governance, professional secrecy and the exchange of information, effective risk management, solvency, and powers and responsibilities of supervisory authorities. The consultation will end on 23 January 2015. Please note that comments submitted after the deadline or not submitted on the provided template cannot be processed. The consultation papers and the templates for comments can be viewed here |
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