WASHINGTON — On the 29th of April, the Office of the United States Trade Representative, together with the United States Department of the Treasury, hosted representatives of the European Commission in Washington for the seventh meeting of the Joint Committee established under the 2017 U.S.-EU Agreement on Prudential Measures Regarding Insurance and Reinsurance (“the Agreement”). The Agreement is a “covered agreement” under the Dodd-Frank Act for the United States and is an agreement under Articles 114 and 218 of the Treaty on the Functioning of the European Union for the European Union. It addresses reinsurance, group supervision, and the exchange of insurance information between supervisors. At the meeting, both sides provided updates regarding the implementation and administration of the Agreement, reaffirmed its importance, and concurred that the Agreement is functioning well.
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