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- Insurance Topics | Reinsurance | NAIC
Issue: Reinsurance, often referred to as “insurance for insurance companies,” is a contract between a reinsurer and an insurer In this contract, the insurance company—the cedent—transfers risk to the reinsurance company, and the latter assumes all or part of one or more insurance policies issued by the cedent
- Yearly Renewable Term (YRT) Reinsurance Treatment Under VM-20
A – Yearly renewable term (YRT) and certain nonproportional reinsurance arrangements, such as stop loss and catastrophe reinsurance are exempt because these do not normally provide significant surplus relief and therefore are outside the scope of this Appendix
- Microsoft Word - 075_m. docx
SUMMARY OF ISSUE Reinsurance is the assumption by an insurer of all or part of a risk undertaken originally by another insurer Current statutory guidance on the accounting for property and casualty reinsurance is contained in Chapters 7, 8, and 22 of the Accounting Practices and Procedures Manual for Property and Casualty Insurance Companies (P C Accounting Practices and Procedures Manual)
- Statutory Accounting Principles (E) Working Group
Summary: This agenda item was developed in response to the December 2023 Valuation Analysis (E) Working Group’s referral to the Statutory Accounting Principles (E) Working Group This referral recommended a clarifying edit to Appendix A-791 Life and Health Reinsurance Agreements (A-791), Section 2 c’s Question and Answer to remove the first sentence, which reads, “Unlike individual life
- Longevity Reinsurance - National Association of Insurance Commissioners
What is Longevity Risk Transfer? Longevity Risk Transfer (“LRT”) involves isolating and transferring longevity risk that is inherent in a portfolio of pension or insurance liabilities
- Materials - Reinsurance (E) Task Force
Preface to Credit for Reinsurance Models The amendments to the NAIC Credit for Reinsurance Model Law (#785) Regulation (#786) are part of a larger effort to modernize reinsurance regulation in the United States The NAIC initially adopted the Reinsurance Regulatory Modernization Framework Proposal during its 2008 Winter National Meeting The NAIC recommended that this framework be
- Preface to Credit for Reinsurance Models
For reinsurance ceded under reinsurance agreements with an inception, amendment or renewal date on or after January 1, 1993, the trust shall consist of a trusteed account in an amount not less than the respective underwriters’ several liabilities attributable to business ceded by U S domiciled ceding insurers to any underwriter of the group
- Statutory Accounting Principles Working Group
This agenda item is to address a December 2023, referral by the Valuation Analysis (E) Working Group (VAWG) regarding reinsurance risk transfer and reserve credit for a particular form of reinsurance being observed by regulators in the life industry The referral noted that: VAWG has identified that issues arise when evaluating reinsurance for risk transfer in accordance with SSAP No 61R
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