US, EU Seek Uniform Regulations for Insurance Companies - Treasury Department

Officials from the United States and the European Union have narrowed differences on a proposed agreement to harmonize regulations for insurance and re-insurance companies, the US Department of the Treasury announced in a press release.

WASHINGTON (Sputnik) — Insurance companies, as well as re-insurers such as Lloyds of London, are seeking a level playing field as they compete for customers on both sides of the Atlantic.

"US and EU representatives made progress on key issues, and identified next steps toward a possible completion of negotiations in the near future," the release stated on Tuesday.

A two-day meeting earlier this month marked the latest in a series of negotiations that began in November 2015, the release explained.