US omitted from second wave of equivalence assessments

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South Africa, Australia and Hong Kong are among the countries that will be in the second wave of assessments for third-country equivalence with Solvency II, the European Commission has said.

The US is absent from the list, but the commission said that a "different approach" for determining its equivalence should be sought.

The commission has identified seven countries that could be given transitional equivalence with Solvency II. These are: Australia, Chile, Hong Kong, Israel, Mexico, Singapore