US, EU Talk Insurance Issues

The agreement addresses three areas of prudential insurance oversight: (1) reinsurance; (2) group supervision and (3) the exchange of insurance information between supervisors.

During the meeting, participants on both sides provided updates regarding the implementation and administration of the agreement with regard to reinsurance (including collateral and local presence), group supervision and exchange of information.

Both sides also reaffirmed their commitment to continuous review of progress under the Agreement and close coordination between the two sides. Consistent with the agreement, both sides are continuing to encourage relevant authorities to refrain from taking any measures that are inconsistent with any of the provisions of the agreement.