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The United States and the European Union signed a bilateral insurance and reinsurance agreement on 22 September 2017. This convention facilitates the transatlantic activities of insurers and reinsurers.
The agreement will reduce the insurers' regulatory burden on both continents, which will only be subject to prudential rules controlled by the supervisor of their country of origin.
It also allows the protection of policyholders thanks to the cooperation between the supervisory authorities and the exchange of information.
The agreement will take effect only after approval of the American Congress and of the European Parliament.
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