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25 February 2018

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US insurers' EU ops unlikely to close after covered agreement: AM Best

Bernard Goyder 18 October 2017

The covered agreement granting US and EU reinsurers regulatory equivalence is unlikely to lead to a dismantling of American groups' European operations, according to AM Best.

The deal will mean that US reinsurers no longer need a local EU presence to do business on the continent.

However, AM Best said: "There remains value in having a local balance sheet and presence on both sides of the Atlantic, as clients view this as a sign of long-term commitment to the market...

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