(respectively referred to as “the Party”) the obligation of a reinsurer established in the other Party to deposit security, as a condition for being able to (i) enter into reinsurance contracts with a cedar company established in Part One or (ii) the ability of the cedar to take out balance sheet credits for such reinsurance if this requirement would result in treatment less favourable to those reinsurers than the resumption of reinsurance. insurers having their registered office or resident in the first part. U.S. states are developing a group capital calculation to serve as an analytical tool to assess a company`s capital position at the group level, a process led by the National Association of Insurance Commissioners that has criticized the negotiation process and the covered agreement with the European Union as implemented and concluded by the Obama administration. indeed, due to a lack of transparency and participation of the public authorities responsible for insurance, which are the primary responsible for the regulation of insurance within the framework of the American public system. At this point, the covered agreement is not considered an international agreement in force, said Jonathan Bergner, vice president of federal affairs at the Washington office of the National Association of Mutual Insurance Companies.