Potential back-door route to Solvency II equivalence for US insurers

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  The US insurance industry could obtain de facto Solvency II equivalence through judgements by individual local regulators, even if it is excluded from the first wave of countries to be considered for the preferential regulatory status. Until a regime fails the European Commission’s (EC) equivalence test, the determination of whether to grant subsidiaries of non-European Union (EU) equivalent status will fall to their local regulators, subject only to a non-binding consultati