Mexico and Chile head for Solvency II
Mexico and Chile are leading the charge by insurance supervisors across the globe and taking steps towards risk-based insurance regulation, in the wake of the European Union's acceptance of the proposed Solvency II directive. It is a blow for proponents of US-style regulation.
Both Latin American states have draft regulations, explicitly modelled on Solvency II, sitting with the respective ministries of finance ahead of submission to their corresponding congresses.
Norma Rosas, vice-president of
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