
On the 26th of
August, EU negotiators have aborted talks concerning better market access for
EU reinsurers over the Transatlantic Trade and Investment Partnership (TTIP).
The abandoning of talks recognizes that it is unlikely to remove rules forcing
the industry to post as much as 100% collateral against their American
liabilities.
Instead, the Commission wants a separate pact that eliminates
state-level collateral requirements for EU reinsurers, which cover direct
insurers against, for example, natural disasters. For this the Commission needs
a separate negotiating mandate from the Council of Ministers.