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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
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
Pension Risk Transfer A pension risk transfer is when a pension provider seeks to remove some or all of its obligation to pay guaranteed retirement income or other benefits to plan participants
Adopted by Life Insurance and Annuities (A) Committee – July 14, 2025 . . . Asset Intensive Reinsurance Transactions - Coinsurance arrangements involving life insurance products that transfer significant, inherent investment risk including credit quality, reinvestment, or disintermediation risk as determined by Appendix A-791 of the Life and Health Reinsurance Agreements Model Regulation
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
TO: - National Association of Insurance Commissioners The current Reinsurance Ceded accreditation standard requires that state law shall contain the significant elements from Model #785 and Model #786 The models serve to provide regulators with an effective method of monitoring the reinsurance activities of U S companies
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 Issue Paper No. 162 Property and Casualty Reinsurance Credit 6 In April 2017, he Financial Analysis (E) Working Group (FAWG) provided a referral to the t Statutory Accounting Principles (E) W orking Group which noted concerns regarding risk-limiting features and the resulting application of reinsurance credit for property and casualty entities and for health contracts In addition, the referral also requested that the Statutory Accounting Princ iples
Credit for Reinsurance Model Brief - National Association of Insurance . . . The NAIC Credit for Reinsurance Model Law (#785) and Model Regulation (#786) strengthen state regulation, prevent regulatory arbitrage, protect U S policyholders, and reduce the uncertainty faced by insurers when planning for collateral liability