Solvency II equivalence issue could prompt Metlife to set up European holding company

Solvency II could prompt Metlife to set up a European holding company, unless there is explicit recognition by the European Union (EU) of the equivalent nature of US insurance regulation, according to the chief executive of the firm's UK buyout arm, Metlife Assurance.

Equivalence – where the EU recognises a third-party regulator, such as the US or Bermuda as equivalent to Solvency II – has proved a controversial topic since the Committee of European Insurance and Occupational Pensions