Solvency II: A competitive advantage for European insurers?

Despite the fact Solvency II in its current form will apply only to the European Union, North American insurers are encouraged to pay attention to the factors underlying its development. If, as anticipated, Solvency II leads to markedly lower capital charges for EU-based companies, then the Europeans will have a significant competitive advantage over North American companies.

http://www.pwc.com/images/gx/eng/fs/insu/0209/4_Solvency_II.pdf