Home >
News

18th of May 2012

Transitional equivalence offered to 16 countries

Matthew Broomfield 13/01/2012

Sixteen jurisdictions have been offered the opportunity to partake in a ‘transitional regime’ for Solvency II equivalence. They include Guernsey, the Isle of Man and Singapore, but not the US.

These countries would need to commit to converging to a solvency and prudential regime that is capable of meeting the equivalence criteria by the end of the transitional period in order to be eligible, said, Karel Van Hulle, head of Unit Insurance and Pensions, European Commission, DG Internal Market and Services.

“As part of the regular exchange with regulators in different third country jurisdictions, the Commission Services of DG Internal Market and Services have informally been in contact with a number of third countries in the context of a potential need for a transitional regime for third country equivalence under Solvency II,” said Van Hulle.

This list of jurisdictions contacted took into account the relevance of the countries' insurance sector to the EU insurance sector and vice-versa, and the extent to which the countries have expressed an intention to move towards a risk-based solvency regime, wrote Jonathan Faull, director general, Internal Market and Services, European Commission, in a letter to EIOPA.

Tags:

Email
Print
Share
Text Size Decrease text size Increase text size

Be the first to comment on this article!

Cid
Cell
Company
Guide
Company &
Ratings
Search

Captive Insurance Database (CID)is the world's most comprehensive online source of captive market intelligence.

CID gives users instant access to the names of parent companies who currently own a captive. It also provides the names and contact details of captives’ risk managers, as well as the parent or ultimate parent companies’ address, country, CFO, CEO, and exchange.

CID also gives you the captive name, manager, licence and incorporation date and the type of captive the parent company is running.

CID will help you to:

• Win more business proactively – Search from 5,700 captives and over 3,700 captive owners who you can offer your services to.

• Increase profit and efficiency – Target specific captive owners and sponsors quicker, saving you time.

• Build relationships – Access detailed contact information for each decision-maker.

An annual CID licence costs just £1,195 + VAT.

Already a CID user?Login here.

Order a 2 year subscription and SAVE 25%
The licence includes full online access to CID and a free annual hardcopy of CID (worth £610).To find out more contact Nick Byrne on +44 (0) 20 7029 4027 or cid@captivereview.com.

Company and Ratings Search

Search A.M. Best's extensive database of life/health, property/casualty and insurance companies worldwide.

Cell Company Guide

WELCOME TO THE Captive Review Cell Company Handbook 2009 – the second edition of our global directory of cell company jurisdictions. Since we last published this directory, the general attitude toward cell companies seems to have shifted up a gear. Whereas single-parent companies have long ruled the captive roost, a slight uptick in the formation of pure captives at the beginning of this year can’t hide the fact that growth in this market is still sluggish.

Pellentesque feugiat arcu vitae lacus elementum in ullamcorper diam pulvinar. In odio massa, facilisis sed dignissim vel, vehicula ac diam. Curabitur tempor, quam nec aliquam tempus, dui lorem venenatis arcu

Mauris accumsan orci ut turpis placerat condimentum. Ut sit amet lobortis purus. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos.

CID