On 13 January, the Commission and the U.S. Department of Treasury released the Covered Agreement (the Agreement) on (re)insurance measures between the EU and the U.S. EIOPA and Insurance Europe welcomed the Agreement.

The Agreement covers three areas of prudential insurance oversight: (re) insurance, group supervision and exchange of information. Insurance Europe believes that the Agreement will help with bilateral trade in (re)insurance, for the benefit of both consumers and economies and hopes all relevant authorities will apply both the provisions and spirit of the Agreement promptly.

A link to the EIOPA press release and the Insurance Europe press statement is here and here.