Równoważność nadzoru ubezpieczeniowego krajów spoza UE
Equivalence of insurance supervision of non-EU countries

Summary/Abstract: The study presents characteristics of the third country equivalence process assessment following Solvency II supervision regime. The process covers assessment at the level of reinsurance companies supervision (Art. 172), in group solvency estimation (Art. 227) and in relation to group supervision issues (Art. 260). The results of equivalence process analysis with supervision systems in Japan, Switzerland and Bermuda are also discussed. Due to numerous changes in the USA legislation, despite its significant importance to EU, this country was not included in the first stage of equiva- lence assessment and, together with several other countries, was covered by a transition period.The article also focuses on the assessment of equivalence importance for the third country insurance institutions and the EU insurance market. The discussion was supplemented by the analysis of possible influence exerted by equivalence process on the global insurance market. It may be expected that the countries outside EU and their public authorities will aim at adjusting their supervision regulations to EU standards, owing to which the latter will become commonly known and accepted.

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