Brazil applies for Solvency II equivalence


Brazil is seeking Solvency II equivalence for its insurance solvency regime, in a reversal of its initially lukewarm response to the pan-European insurance project. The country's insurance supervisory authority Susep is applying for a review of its regulatory framework, which will be carried out by the European Insurance and Occupational Pensions Authority (Eiopa). This is the first step in a process that would enable European firms to apply local solvency rules to their Brazilian subsidiarie