US/EU bilateral agreement: impact on group supervision

  • The Agreement represents a major step forward in US/EU cooperation on (re)insurance. It holds benefits to EU and US re(insurers) operating across the Atlantic, by offering them enhanced regulatory certainty, while maintaining robust consumer protections.
  • The key elements of the Agreement include the progressive elimination of collateral requirements common for EU reinsurers active in the US and removal of duplication of group supervision requirements for international groups headed in the US or EU.
  • The Agreement will come into force five years after signing, except for the group supervision elements, which apply provisionally from 7 November 2017. This paper addresses the group supervision elements only.

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Mike Vickery
Director, PwC United Kingdom
Tel: +44 (0) 7808573882

Kareline Daguer
Director, PwC United Kingdom
Tel: +44 (0)7739 874106

Andy Moore
Partner, PwC United Kingdom
Tel: +44 (0)7702 677 654

Jeanette Joubert
Senior Manager, PwC United Kingdom
Tel: +44 (0)207 804 3529

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