04/10/2017

EU and US sign (re)insurance agreement

EU US

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.