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EU Lawmakers Back US Bilateral Market Access For Insurers

Law360, London (January 25, 2018, 11:26 AM GMT) -- A European Parliament finance committee on Wednesday approved a landmark insurance agreement between the U.S. and the European Union to open up bilateral market access for trans-Atlantic reinsurers, a step long awaited by the industry.

In the same sitting, the Economic and Monetary Affairs Committee also approved new rules to secure the orderly resolution of central counterparties, or CCPs, when they face severe distress or failure.

The bilateral agreement for reinsurers, which provide risk cover for other insurance firms, was designed to lower regulatory hurdles and...
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