US will wait for clarity on transitional measures before deciding on SII equivalence – NAIC

Impact of Solvency II equivalence on consumer protection is key issue for US, says NAIC chief

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The US will wait until Solvency II's transitional measures have been agreed before deciding whether to seek equivalence, according to the chief executive of the National Association of Insurance Commissioners (NAIC).

Terri Vaughan says US regulators were watching the progress of the Omnibus II directive and would decide whether equivalence with Solvency II was in the country's interest once the requirements had become clear.

"We want to see what the arrangements for transitional equivalence look

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