In this issue: China – CIRC allows overseas investments by Chinese domestic insurers; UK – FSA moves to internal twin peaks model for authorisation; UK – Lloyd’s Market Association updates Contract Certainty Code of Practice; Europe – Solvency II update; Europe – EIOPA report on insurance industry training standards; Europe – European Parliament publishes working document on IMD II; US – Pension and insurance convergence; US – NAIC takes major step toward implementation of principles-based reserving for life insurers; US – NAIC subgroup holds public discussion of draft white paper on captive and special purpose vehicle use; US – Reinsurance Task Force meeting highlights; Global – IAIS update; Global – Global Federation of Insurance Associations established; Hong Kong – Public consultation on key legislative amendments for establishment of independent insurance authority; Hong Kong – New outsourcing guidelines for insurers

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