Solvency Ho! An Update on U.S. and European Solvency Initiatives

[Editor's note: This article was originally published in ReinsuranceFocus.com, and does not constitute legal or other professional advice or service by Jorden Burt LLP and/or its attorneys. John Pitblado is an associate with Jorden Burt LLP at the firm's Simsbury, Conn. office.]

Ramped up after the financial crises in 2008, regulatory authorities in the U.S. and Europe have undertaken comprehensive overhaul of solvency regulation for insurers and reinsurers. In Europe, the so-called "Solvency" initiative begun more than a decade ago has given way to a comprehensive second phase, deemed "Solvency II," for which the implementation date was recently pushed back …