Regulatory Alerts2019-10-11 | NBB_2019_24Added · Updated
Circulaire NBB_2019_24 / Reinsurers governed by the law of a U.S. State
Reinsurers governed by the law of a U.S. State must submit specific documents to the National Bank of Belgium to benefit from the EU-US bilateral agreement, which exempts them from branch establishment or collateral requirements. Before entering into reinsurance agreements, these entities must provide confirmations regarding risk-based capital ratios, jurisdiction consent, and notification obligations, along with annual compliance confirmations and detailed financial data upon request. The National Bank of Belgium maintains and publishes a list of U.S. reinsurers that have demonstrated compliance with these conditions.