Representatives of the U.S. and E.U. continued negotiations of a potential bilateral agreement regarding regulation of insurance and reinsurance in Washington D.C. on May 24th and 25th. Following the meeting, the parties issued a joint statement, stating that “Both sides agreed to continue in good faith to pursue an agreement on matters relating to group supervision, exchange of confidential information between supervisory authorities on both sides, and reinsurance supervision, including collateral. U.S. and EU representatives are committed to pursuit of an agreement that will improve regulatory and supervisory treatment for insurers and reinsurers operating on both sides of the Atlantic.” According to the joint statement, “Both sides are considering next steps to ensure advancement of the negotiations.”
We will continue to monitor developments regarding the U.S.-E.U. negotiations on www.insurereinsure.com.