We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
PAM ;,
Sin To Mavebe—
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative


December 11, 2018

The Honorable Sherrod Brown

Ranking Member

Committee on Banking, Housing,
and Urban Affairs

United States Senate

Washington, DC 20510

Dear Senator Brown:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
Sram T, Matvcbo— AM
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative


December 11, 2018

The Honorable Mike Crapo

Chairman

Committee on Banking, Housing,
and Urban Affairs

United States Senate

Washington, DC 20510

Dear Chairman Crapo:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
Fd M Ly
Sram Te (atv chawr—
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative


December 11, 2018

The Honorable Richard E. Neal
Ranking Member

Committee on Ways and Means
USS. House of Representatives
Washington, DC 20515

Dear Representative Neal:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


December 11, 2018

The Honorable Ron Wyden
Ranking Member
Committee on Finance
United States Senate
Washington, DC 20510

Dear Senator Wyden:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
RAM | MM lan
Sree To Mav ebu—
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative


December 11, 2018

The Honorable Kevin Brady
Chairman

Committee on Ways and Means
U.S. House of Representatives
Washington, DC 20515

Dear Chairman Brady:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative


We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative


December 11, 2018

The Honorable Jeb Hensarling
Chairman

Committee on Financial Services
U.S. House of Representatives
Washington, DC 20515

Dear Chairman Hensarling:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


December 11, 2018

The Honorable Orrin Hatch
Chairman

Committee on Finance
United States Senate
Washington, DC 20510

Dear Chairman Hatch:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative


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December 11, 2018

The Honorable Maxine Waters
Ranking Member

Committee on Financial Services
U.S. House of Representatives
Washington, DC 20515

Dear Representative Waters:

We write to inform you that we have concluded the final legal text of a covered agreement with
the United Kingdom (UK) on behalf of the United States (U.S.-UK Covered Agreement). The
UK, as a Member State of the European Union (EU), is currently subject to the covered
agreement between the United States and the EU (the U.S.-EU Covered Agreement). The UK is
preparing to withdraw from the EU on March 29, 2019. The UK is the world’s fourth largest
insurance market, and many U.S. insurers and reinsurers do business in the UK. We have
negotiated the U.S.-UK Covered Agreement to ensure the continued benefits of the U.S.-EU
Covered Agreement to U.S. insurance and reinsurance companies operating in the UK or
assuming business from UK ceding insurers, as well as to maintain continuity and market
stability. The U.S.-UK Covered Agreement addresses the same three areas of prudential
insurance supervision as the U.S.-EU Covered Agreement: group supervision, reinsurance, and
exchange of information between supervisory authorities. The U.S.-UK Covered Agreement
will affirm the U.S. system of insurance regulation, including the role of state insurance
regulators as the primary supervisors of the business of insurance in the United States.

The Federal Insurance Office Act of 2010 (FIO Act), authorizes the Secretary of the Treasury
and the United States Trade Representative (USTR) to negotiate and enter into covered
agreements jointly on behalf of the United States. Covered agreements are written bilateral or
multilateral agreements regarding prudential measures with respect to the business of insurance
or reinsurance.

On October 6, 2018, Treasury and USTR first notified Congress that we anticipated initiating
negotiations with the UK. Those negotiations have now concluded. The United States and the
UK have agreed in writing that the attached text of the covered agreement is the final legal text
negotiated between the United States and the UK.


We are therefore pleased to submit to you the final legal text of the agreement, pursuant to the
provisions of the FIO Act of 2010.

Sincerely,
Spin ae Mae che
Steven T. Mnuchin Robert E. Lighthizer

Secretary of the Treasury United States Trade Representative