Ahead of a meeting in Brussels on 13 May of the Transatlantic Economic Council, a body set up in 2007 to direct economic cooperation between the United States and the European Union, the CEA and ACLI said that a forum should be convened to discuss issues such as reinsurance collateral requirements for overseas companies operating in the United States, and Solvency II, the proposed risk-based capital regime for insurers operating in the European Union. The forum should hold its first meeting before the end of the year and “engage E.U. and U.S. Federal government agencies, regulators and industry to develop a joint roadmap toward interim and long-term solutions,” the CEA said in a statement.
The CEA represents insurers and reinsurers in Europe, while the ACLI represents 353 life insurance companies in the United States.
