Mobile Menu
Alerts

Bermuda: Solvency II

In November 2015, the European Commission published a “Delegated Act” which recognised Bermuda’s commercial insurance regulatory framework as being fully equivalent to regulatory standards applied to European insurance and reinsurance companies and insurance groups in accordance with the requirements of the Solvency II Directive. Bermuda follows Switzerland as only the second country to date to be granted full equivalence by the European Commission.

As the Solvency II Directive came into force on 1 January 2016, the grant of full equivalence to Bermuda prior to the 2015 year end provided comfort to commercial insurers and reinsurers operating from the Island. Solvency II equivalence will ensure that Bermuda commercial insurers and reinsurers and insurance groups will not be disadvantaged when competing for and writing business in the EU.

 

To continue reading full articles in PDF format:
Bermuda: Solvency II

 


David J. Doyle
Director

BERMUDA   +1 441 299 4902


Chiara T. Nannini
Director

Bermuda   +1 441 298 7859


Kent Smith
Counsel

Bermuda   +1 441 299 4962


Accolades
_

"Few firms can come close to Conyers on one critical metric, and this is the breadth of the client base."
- IFLR1000

Related Jurisdictions

Bermuda


Related International Markets

Bermuda


Media Contact

For media enquiries, please contact media@conyersdill.com

Alerts

Bermuda: Solvency II

In November 2015, the European Commission published a “Delegated Act” which recognised Bermuda’s commercial insurance regulatory framework as being fully equivalent to regulatory standards applied to European insurance and reinsurance companies and insurance groups in accordance with the requirements of the Solvency II Directive. Bermuda follows Switzerland as only the second country to date to be granted full equivalence by the European Commission.

As the Solvency II Directive came into force on 1 January 2016, the grant of full equivalence to Bermuda prior to the 2015 year end provided comfort to commercial insurers and reinsurers operating from the Island. Solvency II equivalence will ensure that Bermuda commercial insurers and reinsurers and insurance groups will not be disadvantaged when competing for and writing business in the EU.

 

To continue reading full articles in PDF format:
Bermuda: Solvency II

 


David J. Doyle
Director

BERMUDA   +1 441 299 4902


Chiara T. Nannini
Director

Bermuda   +1 441 298 7859


Kent Smith
Counsel

Bermuda   +1 441 299 4962


 

JURISDICTION(S)

Bermuda


International Office(s)

Bermuda