EU-US insurance agreement concluded


From left to right: Mr Victor NEGRESCU, Romanian Minister Delegate for European Affairs; Ms Ekaterina ZAHARIEVA, Bulgarian Minister for Foreign Affairs

Photo: European Union

On 20 March 2018, the Council adopted a decision concluding an agreement with the United States on insurance and reinsurance.

The agreement provides legal certainty for EU and US insurers and reinsurers in the application of regulatory frameworks. It will enable improved protection for policyholders and other consumers through cooperation between supervisors and the exchange of information.

The text was negotiated by the Commission on the basis of a mandate approved by the Council in April 2015. It includes provisions on reinsurance, group supervision and the exchange of information. A joint committee will oversee its implementation.

Read the full press release here.

Visit the meeting the page on the website of the Council of the European Union.

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