Solvency II equivalency: time to end the phoney war
End the phoney war
Relations between US regulators and the European Commission (EC) have been tense of late as the latter takes a strong line on what it sees as a muddled and outdated approach to regulation by the National Association of Insurance Commissioners (NAIC). Given the potential catastrophic implications for both US and European insurance companies if this spat had developed into an all-out trade war, news there is a potential back-door route to equivalence (page 4) will come as a relief to all
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