Concessions on Solvency II equivalence not followed through in level 2 proposals

Requirements for using deduction and aggregation method to calculate SCR of subsidiaries remain too high, insurers say

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European insurers with Canadian subsidiaries hope to use the D&A method

The European Commission is under pressure to relax further Solvency II rules on the methods for calculating group solvency for European insurers seeking to benefit from third-country equivalence.

Insurers claim that amendments on equivalence and provisional equivalence in the draft Omnibus II directive are not being followed through in the commission's latest draft level 2 text.

They argue that the level 2 text places obstacles in the way of firms seeking to apply the so-called deduction and

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