Overview
Guy Soussan and Algirdas Semeta, both in Steptoe's Brussels office, have authored an article titled "US Reinsurers Face Unexpected EU Market Access Restrictions" for Insurance Day. The article, published on October 26, looks at the differing requirements that EU Member States have decided to impose on third country reinsurers pursuing business in those states. With the January reinsurance renewal season approaching and continued uncertainty regarding the covered agreement negotiations, this is an additional hurdle for reinsurers from non-equivalent jurisdictions, such as the US, whose ability to conduct cross-border reinsurance business in the EU could be significantly restricted.
The full article can be read at Insurance Day (subscription required).
