Kevin McCarty, President of the National Association of Insurance Commissioners (NAIC) has said the US has “no intention” of going through a checklist of proposed Solvency II directives, reports the Financial Times.If the US does not achieve "equivalence" under Solvency II, international players with a US presence would need to comply with both US and European regulations simultaneously — a scenario which has led some insurers to warn that they would rather withdraw from the US than incur the additional expense this would entail.Mr McCarty, who is also Florida Insurance Commissioner, said in the report: "I don't mean to suggest we don't have anything to learn from the process. But I don't think that Europe necessarily is the only place you can learn anything from."No disrespect to the EU but I think it's kind of interesting, at best, they would want to make a comparison to a system [Solvency II] that isn't in place yet. It's a theoretical system ... measured up against a system that's been tried and tested for decades."He added: "It's kind of silly to even consider that an equivalence process."Mr McCarty added that US regulators were happy to work with EU regulators to develop mutual understanding and cooperation. He concluded by telling the Financial Times that, at a recent meeting between regulators from the EU and the US, "when they started saying 'under Solvency II your system would ...', I just said: 'I'd like to remind my esteemed colleagues from Europe that we have no intention of going through a checklist of what you want to do'."