24th April 2015

Council authorizes negotiations on a new EU-US reinsurance treaty

On 21 April, EU ministers in charge of general EU affairs adopted, without further discussion, a mandate for the Commission for the negotiation of an EU-US agreement on reinsurance. The Council´s decision approves the negotiations and sets limits and guidelines for the Commission, which will negotiate on behalf of the EU. After concluding the negotiations, the treaty will be submitted to the EP for approval and will then be adopted by the Council. The agreement is intended to facilitate trade in reinsurance services and related activities, introduce mutual recognition of regulatory standards and enable EU and US regulators to exchange information.

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Members of the American Chamber of Commerce in the Czech Republic