COMMISSION DELEGATED DECISION (EU) .../... on the renewal of the determination that the solvency regime in force in Brazil, Japan and Mexico applicable to undertakings with their head office in tha...

Ref. Ares(2025)4523280 - 05/06/2025 EUROPEAN COMMISSION […] COMMISSION DELEGATED DECISION (EU) …/… of XXX Brussels, XXX […](2025) XXX draft on the renewal of the determination that the solvency regime in force in Brazil, Japan and Mexico applicable to undertakings with their head office in that third country is provisionally equivalent to that laid down in Title I, Chapter VI of Directive 2009/138/EC of the European Parliament and of the Council This draft has not been adopted or endorsed by the European Commission. Any views expressed are the preliminary views of the Commission services and may not in any circumstances be regarded as stating an official position of the Commission. EXPLANATORY MEMORANDUM 1. CONTEXT OF THE DELEGATED ACT Commission Delegated Decision (EU) 2015/22901 granting provisional equivalence under Article 227 of Solvency II to Brazil, Mexico and Commission Delegated Decision (EU) 2016/310 granting provisional equivalence under Article 227 of Solvency II to Japan 2 apply since the 1st of January 2016 and expire on the 1st of January 2026. According to Article 227(6) of the Solvency II Directive3: “provisional equivalence shall be subject to renewals for further periods of 10 years where the criteria referred to in paragraph 5 continue to be met. The Commission shall adopt any such delegated act in accordance with Article 301a and assisted by EIOPA in accordance with Article 33(2) of Regulation (EU) No 1094/2010”. In...