EU-U.S. Insurance Project reports on increased transatlantic cooperation

The Steering Committee of the EU-U.S. Insurance Project hosted on 25
October in Amsterdam a Forum dedicated to the evolution of group
supervision. Attended by insurance professionals from around the world,
the event provided an opportunity for exchange of views, suggestions and
practices between insurance companies and supervisory authorities from
both sides of the Atlantic.

The main purpose of the Forum was to highlight the initiatives of the EU-US
Insurance Project on group supervision and the use of Own Risk and
Solvency Assessment (ORSA). The Project parties expanded on their
intention to develop a clear designation of responsibilities for group and
solo supervisors within colleges. They are also going to formulate common
high-level principles for transatlantic colleges. Furthermore, the Project
plans to elaborate on common ORSA reporting elements for both EU and U.S.,
which would limit insurers duplicating of work on ORSA.

Gabriel Bernardino, Chairman of EIOPA, said: "During this Forum we
demonstrated that from the level of mutual understanding in general we are
making steps towards more concrete deliverables. I am happy to see this
move. We have to think and act in line with the increasingly global
environment we are living in. With the EU-U.S. Insurance Project we are on
the right track".

During the final session, the attendees learned about achievements and
current activities of the EU-U.S. Insurance Project. The Project parties
explained the updates that were recently made in the Project's Way
Forward document outlining the milestones to be achieved in the next
years.

Click here (Link:
https://eiopa.europa.eu/conferences-events/2014/public-event-of-the-eu-us-insurance-project-on-25-october-2014-in-amsterdam/index.html
) to find more information about the event.


This newsletter was sent to you by:

EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

---

Don't want to receive this newsletter anymore?

Please login to the Restricted Area of the EIOPA website and change
your user profile:

https://eiopa.europa.eu/restricted-area/index.html

If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.