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24 January 2018

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US-EU talks yield covered agreement for insurers

Ted Bunker 13 January 2017

US and European negotiators have reached a covered agreement to harmonise regulation of insurers and reinsurers and remove barriers to transatlantic business.

The deal covers supervision, reinsurance and information exchange between regulators, according to a letter signed by US Treasury Secretary Jacob Lew and US Trade Representative Michael Froman.

The agreement is expected to significantly reduce the amount of collateral a European insurer must hold against business written in the US.

In a joint statement, negotiators from both sides said...

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