In 2012, Louisiana's Credit for Reinsurance statutes were amended to allow for reduced collateral for reinsurers that maintain a surplus level of no less than $250 million, maintain financial strength ratings from two or more acceptable rating agencies, and are domiciled and licensed to transact insurance or reinsurance in a qualified jurisdiction, as determined by the commissioner.
The level of collateral required corresponds to the rating assigned to the certified reinsurer by the commissioner, which is based on various factors including, but not limited to, the certified reinsurer's business practices, regulatory actions against the certified reinsurer, financial strength and the report of the independent auditor.
Certified Reinsurer Application
Applicable Louisiana Laws
La. R.S. 22:651(E)
LAC 37:XIII.3510 (Regulation 56)
Advisory Letter 2014-02 (Qualified Jurisdictions)
Accredited US Jurisdictions
NAIC List of Qualified Jurisdictions
Applicants Seeking Certified Reinsurer Status
Notice is hereby given that, pursuant to LAC 37:XIII.3510.B.1, an application has been filed by the following applicants to act as certified reinsurers in the state of Louisiana:
All interested persons are invited to submit written comments in connection with the proposed applications within thirty days following publication of this notice to:
Louisiana Department of Insurance P.O. Box 94214 Baton Rouge, LA 70804 Attn: Office of Financial Solvency
Listing of Certified Reinsurers
||Certified Reinsurer Name
||Arch Reinsurance Ltd
||Chubb Tempest Reinsurance Ltd
||Endurance Speciality Insurance Ltd.
||Hannover Rück SE
Certified reinsurers whose rating was downgraded or status was revoked, or withdrawn during past year: