The National Conference of Insurance Legislators (NCOIL) International Affairs Committee has voted to consider a proposal to form an approved list of non-US reinsurers.
The proposal came from the International Underwriting Association (IUA) and the Comité européen des assurances (CEA).
The decision follows an 18-month lobbying campaign.
IUA chairman Stephen Cane said: "Without this positive vote from NCOIL it would have been much more difficult to pursue our discussions on what is still a state-based solution.
"However, there is still much work to be done and we look forward to working with NCOIL and to assisting them in their regulator-to-regulator discussions."
Next week the FSA's John Tiner will lend his weight to the lobbying campaign when he attends the National Association of Insurance Commissioners (NAIC) winter meeting in San Diego.
