Knocking down barriers
A new reinsurance directive passed by the European parliament in early June will eradicate the collateral requirements demanded by European supervisors. With a unified framework agreed for Europe, politicians are now turning their sights on the US. By Patrick Fletcher
Reinsurance firms are about to see a shift in the way they do business in Europe. Following the passing of a new reinsurance directive by the European parliament on June 7, reinsurers will no longer have to post collateral in the European countries that they do business. And with a single set of regulations agreed for Europe, politicians are now turning their attention to the US, with some muttering about the possibility of raising the issue with the World Trade Organisation if collateral
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