CEIOPS has considered the following list of factors in conjunction with the specificities of each of the relevant articles within Solvency II where equivalence assessments are envisaged: i.e. Article 172, dealing with the equivalence of reinsurance supervision; Article 227, dealing with the group solvency calculation, and Article 260, dealing with the equivalence of third country group supervision.
· Whether the third country currently has a supervisory regime that is fully risk-based or has taken measures to move towards such a system;
· The materiality of an equivalence finding to EU insurance and reinsurance undertakings and their policy holders;
· The number of related undertakings situated in the third country held by EU insurance and reinsurance undertakings;
· The importance to the insurance market in the third country of the equivalence finding; and
· The existence currently of mutual recognition or equivalent arrangements between third countries and Member States.
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