EU and US sign (re)insurance agreement
The EU and United States have now signed the landmark bilateral (re)insurance agreement first announced in January 2017. It addresses three areas of prudential regulation: group supervision, reinsurance collateral and the exchange of information between supervisory authorities. The Reinsurance Advisory Board of Insurance Europe has welcomed the signature of the agreement. In a statement, the advisory board said that by facilitating cross-border (re)insurance business between Europe and the US, the agreement will benefit policyholders and support economic growth in both jurisdictions.