Regulatory Alerts2019-09-18
US Reinsurers Carrying Out Reinsurance Business in Germany Without a Branch
BaFin has issued guidance detailing how US reinsurers may conduct business in Germany without a local branch under the EU-US bilateral agreement. The framework requires these entities to satisfy specific capital and risk-based ratios, provide 100 percent collateral for ceded liabilities, and maintain prompt claim payment practices. US reinsurers must submit original declarations and annual audited financial statements to BaFin, with compliant entities listed publicly on the regulator’s website.
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