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The Treasury Department and USTR have announced their intent to sign the bilateral agreement between the U.S. and the United Kingdom on prudential measures regarding insurance and reinsurance. According to Treasury, the U.S.-UK Covered Agreement is an important step in providing regulatory certainty and market continuity as the UK prepares to leave the European Union in March 2019, as well as in making U.S. companies more competitive in domestic and foreign markets and making regulations more efficient, effective, and appropriately tailored.