On Friday 13 January, the EU and United States announced they had concluded a bilateral agreement on insurance and reinsurance measures. The formal negotiations started nearly a year ago (see EUROPE 11299), but in reality, the EU has been discussing the matter with its American partner for more than 20 years, the European Commission said.
Under this agreement, "US and EU insurers operating in the other market will only be subject to (…) oversight by the supervisors in their home...