SII equivalence for Bermuda goes live

Bermuda's (re)insurance industry is now officially compliant
with the European Union's Solvency II regulatory regime.The Association of Bermuda Insurers and Reinsurers (ABIR)
announced this week that equivalence had taken effect, retroactive
to 1 January.The jurisdiction is equivalent for all three measures under
Solvency II, namely group capital, group supervision and
reinsurance regulation.Bermuda and Switzerland are the only two jurisdictions that have
been found to be fully equivalent by the