and insurance intermediation (brokerage and agency) services related to

these types of insurance by clients located abroad, without regard to whether

the foreign insurance supplier is registered in the consumer country.

2. For life and non life reinsurance

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 the following additional specific

commitments are to be included in the schedule:

(a) Elimination of mandatory cessions imposed on insurance suppliers to

cede all or a portion of their risks to specified insurance or reinsurance

suppliers;

(b) Elimination of any requirements that impose greater restrictions on the

percentage of cessions to foreign reinsurance suppliers than to domestic

reinsurance suppliers;

(c) Elimination of right of first refusal privileges for domestic reinsurance

suppliers;

(d) Elimination of discriminatory requirements imposed on foreign

reinsurance suppliers as they relate to collateralisation and localization

of assets;

(e) The abolition of reinsurance monopolies; and

(f) The guarantee of freedom of form of reinsurance and freedom of

reinsurance contract terms.

C. Market Access   Commercial Presence

1. Form of establishment

(a)  A foreign insurance supplier may establish a commercial presence by

setting up a subsidiary (either wholly or partly (majority) owned), or by

forming a new company, or through acquisition of an insurance supplier

already established in the host country or as a branch;

(b)  In their regulatory approach to a foreign insurance supplier, the

countries shall have full regard for the relationship between such a

supplier and its parent company when the supplier enters into the

market;

(c)

Consistent with international intellectual property, business name

registration and trademark law, a licensed foreign insurance supplier

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 The commitment should allow for differentiation on a least trade restrictive basis for life and non life reinsurance

market segments, consistent with the nature of risks assumed.

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