In June 2010, the European Commission asked CEIOPS, EIOPA’s preceding organisation, to provide advice on whether the supervisory regimes of Bermuda, Japan and Switzerland meet criteria of equivalence. The goal of this equivalence assessment is to ensure that the third country regulatory and supervisory regimes provide a similar level of policyholder/beneficiary protection as the one provided under the Solvency II Directive.

EIOPA is currently seeking input on the equivalence assessment of Bermuda, Japan and Switzerland and invites market participants and interested parties to provide experience and information on relevant aspects of the supervisory practices and insurance regulatory regimes in the three countries respectively.

Consultation documents can be found on:

https://eiopa.europa.eu/fileadmin/tx_dam/files/requestsforadvice/Equivalence-June2010/equivalence-call-for-advice_20100611.pdf (Call for Advice from the European Commission)

https://eiopa.europa.eu/fileadmin/tx_dam/files/requestsforadvice/Equivalence-October2010/EC-call-for-advice-Equivalence-Nov.2010.pdf (related documents)

https://eiopa.europa.eu/consultations/consultation-papers/2011/august-2011/consultationpaper-no-3-eiopa-draft-report-equivalence-assessment-of-the-swiss-supervisorysystem/index.html (Draft report on the equivalence assessment of the Swiss supervisory system and relevant template for comments)

https://eiopa.europa.eu/consultations/consultation-papers/2011/august-2011/consultationpaper-no-4-eiopa-draft-report-equivalence-assessment-of-the-bermudan-supervisorysystem/index.html (Draft report on the equivalence assessment of the Bermudan supervisory system and relevant template for comments)

https://eiopa.europa.eu/consultations/consultation-papers/2011/august-2011/consultationpaper-no-5-eiopa-draft-report-equivalence-assessment-of-the-japanese-supervisorysystem/index.html (Draft report on the equivalence assessment of the Japanese supervisory system and relevant template for comments)

Consultation is open until 23 September 2011 at 18.00 HRS CEST.

It is appreciated if any feedback provided to EIOPA on the e-mail address [email protected] is copied to the Malta Financial Services Authority – Insurance and Pensions Supervision Unit by on e-mail [email protected]

MFSA Ref: 37-2011