Setting US-EU accord rules could take 5 years

Certain benefits from the covered agreement signed on 22
September by US and EU officials may be a long time in coming, as
full implementation may take five years.
And that includes the removal of collateral requirements imposed
by US states that have forced European reinsurers to lock up about
$40bn in capital.
Some aspects of the agreement took effect on the signing,
leaving industry leaders like TransRe CEO Mike Sapnar
optimistic.
"Now that the agreement is signed the real...