Bermuda faces challenges to Solvency II equivalence

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Bermuda is only partly equivalent with Europe's Solvency II regime, while Japan and Switzerland meet the equivalence criteria but "with caveats", the European Insurance and Occupational Pensions Authority (Eiopa) said this week.

The findings were contained in Eiopa's final reports to the European Commission on the equivalence assessment of the Bermudan, Japanese and Swiss supervisory systems.

The equivalence assessment was set to ensure that the third country regulatory and supervisory regimes p