WASHINGTON, D.C. (PRWEB) January 13, 2017
The following statement was issued on behalf of the American Council of Life Insurers (ACLI), the American Insurance Association (AIA), and the Reinsurance Association of America (RAA) in response to the conclusion of covered agreement negotiations between the United States and the European Union:
“We welcome the successful conclusion of covered agreement negotiations between the United States and European Union. This agreement, which was reached on January 13, seeks to resolve significant insurance and reinsurance regulatory issues for companies doing business in both jurisdictions. We have long supported the covered agreement process and look forward to reviewing the details.
“We thank the U.S. and European Union parties who were involved in the negotiations for advancing this important initiative. We also applaud state regulators for their invaluable contributions and their continuing commitment to U.S. policyholders.”