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Collectively, these bodies represent the life and non-life insurance sectors in the United States and the European Union. Transatlantic trade and investment benefit those on both sides of the Atlantic by stimulating economic activity, job creation and competitiveness.
The TTIP can increase insurance trade and investment between the United States and European Union, set a high standard for future trade negotiations with third parties, and facilitate dialogue between regulators on both sides of the Atlantic. Therefore, a successful TTIP must include insurance trade, investment, and regulatory cooperation.
The transatlantic insurance industry continues to support the recently launched negotiations for an international “covered agreement” on specific insurance prudential matters, as well as the Financial Markets Regulatory Dialogue and bilateral Insurance Dialogue Project. However, it believes that the TTIP offers an opportunity to create enduring structures for broad, ongoing regulatory cooperation that builds upon these other existing regulatory dialogues.
The next TTIP negotiating round will occur the week of 11 July, with services-specific TTIP negotiations to follow the week of 18 July.