On 12 December, Insurance Europe issued a press release reaffirming its support for a swift conclusion to the bilateral agreement on (re)insurance negotiations between the EU and the US. Cristina Mihai, Insurance Europe's head of international affairs and investments said that Insurance Europe was encouraged by the progress made during the recent round of negotiations.
She stated that a prompt conclusion to negotiations would be beneficial to Europe's (re)insurers. It is hoped the agreement will lead to all European (re)insurers placing business in the US receiving equal treatment to US (re) insurers. Ms Mihai believes that the bilateral agreement should seek the total elimination, for both in-force and new business, of the current US statutory collateral requirements which discriminate against European crossborder (re)insurers.
A link to the press release is here.