Mr. Koziol said among the issues the primary and secondary companies differed on was the question of a single reinsurance regulator.

For the ceding companies, it could be the state of domicile, Mr. Koziol said. Reinsurers, on the other hand, might favor a single federal authority, whether it be through the optional federal charter program, if that comes to a pass, or a special federal reinsurance regulator.

In a similar vein, ceding companies would look for regulations that are “uniform and consistent,” while reinsurers would seek a stricter “harmonized” approach that would include cross-border jurisdictions, Mr. Koziol said.

While both primary and secondary insurers in the past have fought efforts to reduce the 100 percent collateral alien reinsurers are currently required to post, their motives remain different.

For reinsurers, the issue is one of fair competition, while the ceding companies want to maintain strict solvency rules since any failure affects them all through the guaranty fund system, Mr. Koziol said.

Ms. Bowler said she hopes to have some document set for approval by the full NAIC body by the December meeting.

Mr. Koziol suggested the most that could be hoped for now will be a series of concessions to ease the alien collateral requirement, while the overall question of reinsurance regulation is debated concurrent with similar debates in Europe.