The NAIC has started a wholesale review of how they regulate insurers, called the Solvency Modernization Initiative. How does U.S. solvency regulation compare with Solvency II in Europe? This panel features Kathryn Morgan of the U.K.’s Financial Services Authority, who has been deeply involved with the creation of Solvency II, and Ramon Calderon, Director for the Center for Insurance Policy & Research, NAIC. Panelists will discuss Solvency II, the NAIC Solvency Modernization Initiative, and how the concepts of Solvency II may or may not work in the U.S.