On 7 May 2015, the European Commission published draft minutes of the March 2015 meeting of its Expert Group on Banking, Payments and Insurance. Topics discussed at the meeting included: (a) whether a proposal should be put forward on insurance recovery and resolution at EU level; (b) a proposed EU/US covered agreement on reinsurance; and (c) revisions to the EU/Swiss non-life insurance agreement. Solvency II dominated the agenda. Member States provided an update on transposition: seventeen indicated that transposition will be completed either before the 31 March deadline or at some point during Q2 2015; five noted that transposition would take place during the second half of 2015; the remaining six Member States were unable to say when transposition would be completed. The minutes also note that a number of third country jurisdictions have been assessed for equivalence and that there has been a positive outcome for several of them (including Bermuda, Canada and USA) on provisional equivalence for solvency under Article 227. Only Switzerland has so far qualified for full equivalence for reinsurance, solvency and group supervision under Articles 172, 227 and 260 - however, assessments are ongoing.