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- Insurance Topics | Reinsurance | NAIC
Actions On June 25, 2019, the Executive (EX) Committee and Plenary adopted revisions to Model #785 and Model #786, which implement the reinsurance collateral provisions of the “Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance” (EU Covered Agreement) and “Bilateral Agreement Between the United
- Chapter 26 Reinsurance Intermediaries - National Association of . . .
binder Reinsurance intermediaries act as insurance producers in accepting any reinsurance contract or binder on behalf of an insurer The NAIC has adopted the Reinsurance Intermediary Model Act (#790), which contains a simplified registration process for nonresident reinsurance intermediaries
- Reinsurance Brief
reinsurance risk-adjusted rate increases ranged from +10% to +50%, with loss-impacted clients often seeing even higher pricing In the US, property catastrophe reinsurance risk-adjusted rate increases were on average the highest in 17 years, with loss-free accounts generally up +20% to +50% The preliminary year-to-date Guy Carpenter US Property
- LIFE AND HEALTH REINSURANCE AGREEMENTS MODEL REGULATION Table of Contents
reinsurance agreements that yield legitimate relief to the ceding insurer from strain to surplus B However, it is improper for a licensed insurer, in the capacity of ceding insurer, to enter into reinsurance agreements for the principal purpose of producing significant surplus aid for the
- Statutory Issue Paper No. 75 Property and Casualty Reinsurance
9 Reinsurance recoverables on paid losses and loss adjustment expenses are reported as an asset under both statutory accounting and GAAP Reinsurance recoverables on unpaid losses and loss adjustment expenses also meet the statutory definition of an asset established in Issue Paper No 4—
- Reinsurance Asset Adequacy Testing (AAT) Life Actuarial Task Force
• Significant reserve decrease due to reinsurance or use of non -primary security to back reserves • Collectability risk associated with the reinsurer is significant • Perhaps consideration of affiliated status or protections such as trusts or funds withheld • Generally targeting optimistic judgment on key assumptions or more favorable
- Schedule P Reporting for Retroactive Reinsurance Accounting Exceptions
Prospective Reinsurance Accounting (paragraphs 30 -32) • Ceding entity: loss and LAE reserves Exhibits Schedules do not take credit for retroactive reinsurance • Assuming entity: loss and LAE reserves Exhibits Schedules exclude assumed retroactive reinsurance • Balance sheet write-in amounts:
- REINSURANCE INTERMEDIARY MODEL ACT Table of Contents
G “Reinsurance intermediary-manager” (RM) means a person, firm, association or corporation, whether known as a RM, manager or other similar term, who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer (including the management of a
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