Reinsurers welcome reduced collateral requirements for US business

New York has approved UK, Germany, Switzerland and Bermuda as qualifying jurisdictions

Reinsurers and regulators in Europe and Bermuda praised the US National Association of Insurance Commissioners (NAIC) for ushering in reinsurance collateral reforms that will make it cheaper for firms to write business is the US, but argue there is still some way to go towards creating a level playing field.

On January 1, the UK, Germany, Switzerland and Bermuda were placed on the NAIC's list of qualified jurisdictions, making reinsurers licensed and domiciled in these countries eligible for cer

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