WASHINGTON - On April 2, 2019, the United States and the European Union held the second meeting of the Joint Committee established under the U.S.-EU agreement on prudential measures regarding insurance and reinsurance (“the Agreement” hereafter). The United States and the European Union signed the Agreement on September 22, 2017, and the Agreement entered into force on April 4, 2018.
The Agreement—which is a ‘covered agreement’ as defined by the Dodd-Frank Act for the United States and an Agreement under Article 218 of the Treaty on the Functioning of the European Union for the European Union—addresses three areas of prudential insurance oversight: (1) reinsurance; (2) group supervision; and (3) the exchange of insurance information between supervisors. Read More →
