14/03/2024 (Agence Europe) – On Thursday 14 March, the European Commission adopted a decision renewing the 2015 framework on the equivalence of EU and US rules in the insurance sector. EU insurance companies will therefore be able to continue to benefit from this equivalence framework for a further 10 years. “Thanks to this decision, EU insurance groups will be able to calculate capital requirements for their operations in the US on the basis of local rules. By eliminating the need to reconcile with EU rules, European groups can continue to operate on an equal footing with their American counterparts, and to benefit from alleviated administrative burden and reduced costs”, stated the European Commission in a press release on Thursday 14 March. This decision was adopted in accordance with Article 227 of the Solvency II Directive. (BD)