The Harmonization of European Reinsurance: In Whose Interest?
Directive overreaches on collateral, falls short on finite reinsurance
On June 7, 2005 the European Parliament, the legislative body of the European Union, approved the European Directive on Reinsurance (the "Directive"). The Directive is the product of five years of work toward a unified regulatory and supervisory system market for reinsurance which, contrary to the direct insurance market, was previously unregulated at a European level.
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