The United States Department of the Treasury and the Office of the United States Trade Representative convened with European Commission representatives on April 29 in Washington. This gathering marked the seventh meeting of the Joint Committee under the 2017 U.S.-EU Agreement on Prudential Measures Regarding Insurance and Reinsurance. The Agreement is described in the United States as a “covered agreement” under the Dodd-Frank Act, and under Articles 114 and 218 of the Treaty on the Functioning of the European Union in the EU.
The meeting included discussions on implementing and administering the Agreement, which covers areas such as reinsurance, group supervision, and the exchange of insurance information between supervisors. Both the U.S. and EU representatives reaffirmed the importance of the Agreement and agreed that it is functioning effectively.
