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01 December 2011

EIOPA & Solvency II: What to expect in non-Member States such as Switzerland


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EIOPA chair, Gabriel Bernadino, highlighted that equivalence criteria will facilitate cross-border activities of insurance and it will diminish the burden on internationally-active insurance groups.


 What is still missing in Solvency II?

  • Level 2 implementing measures
  • Omnibus 2
  • Technical standards and guidelines
  • EIOPA plans to start public consultation of technical standards in May 2012.

Criteria for equivalence - areas to be assessed:

  • Powers and responsibilities of third country supervisors
  • Taking-up of business
  • System of governance
  • Public disclosure
  • Changes in business, management or qualifying holdings
  • Solvency assessment
  • Professional secrecy, exchange of information
  • Group supervision


© EIOPA

Documents associated with this article

Zurich_Swiss_Insurance_Federation_01_12_2011.pptx


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