Bermuda S2 assessment positive but political factors will determine success
EUROPEAN SUPERVISORY AUTHORITY EIOPA’s preliminary assessment that Bermuda is technically well-placed to achieve equivalence under proposed Solvency II rules was largely anticipated by senior management on the island, with many having long argued that political considerations would ultimately play a much greater role in determining whether the island’s regulator, the Bermuda Monetary Authority’s (BMA) campaign will prove successful.