Trade representatives for the United States and the European Union, who met May 24 and 25 to negotiate a bilateral covered agreement on regulations for insurers and reinsurers, on Friday issued a joint statement indicating they have not reached a …
The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign reinsurers to set aside against policies. EU states agreed on Tuesday to give the bloc’s …
Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an increasingly sick economy. Russian President …
State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to complete, would – if adopted …
A tenth reinsurer –and ninth from Bermuda– is taking advantage of a Florida law that allows it to post a lower collateral amount while still conducting business in the state. Florida regulators announced that Montpelier Reinsurance Ltd. has been authorized …
