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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
- 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 (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
- Microsoft Word - IP No. 162. docx
The substantive revisions to SSAP No 62R (illustrated in Exhibit A), are intended to clarify reinsurance risk-transfer requirements and that reinsurance accounting credit for contracts that pass risk transfer is only for the amount of risk ceded The clarifications were primarily accomplished by incorporating U S generally accepted accounting principles (GAAP) guidance which was previously
- Certified and Reciprocal Jurisdiction Reinsurers
The NAIC has compiled a list of the NAIC member jurisdiction webpages containing state specific information regarding certified and reciprocal jurisdiction reinsurers This is intended for informational purposes only to facilitate accurate reporting of reinsurance transactions within the statutory financial statements
- 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)
- Hearing Agenda 2 December 17, 2024 ROLL CALL
The ceding insurer is required to reimburse the reinsurer for negative experience under the reinsurance agreement The reinsurance agreement can’t involve the possible payment by the ceding insurer to the reinsurer of amounts other than from income realized from the reinsured policies
- 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
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