Following the announcement that the US Treasury, together with the US Trade Representative, intend to begin negotiations with the EU for a covered agreement on (re)insurance, Cristina Mihai, head of international affairs and reinsurance at Insurance Europe, commented:

“Insurance Europe is pleased that negotiations can finally begin for a covered agreement on (re)insurance between the EU and the US. In particular, Insurance Europe welcomes the intention to afford nationally uniform treatment to all EU (re)insurers operating in the US. At the same time, it hopes that the final agreement will be ambitious and will include equal treatment for both EU and US (re)insurers, by eliminating the current discriminatory collateral requirements that are applied to EU (re)insurers.”