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For Companies > Licensing and Approvals for Prospective Companies > Applications > Certified Reinsurer
Certified Reinsurer Application
 

Certified Reinsurer Application Form - RSA 405:47 and Ins 601.06

Depending on the financial strength rating granted by the New Hampshire Insurance Department (NHID), a Certified Reinsurer will be allowed to post less than 100% collateral and still enable an authorized insurer to qualify for full reserve credit with respect to reinsurance contracts renewed or entered into on the date the reinsurer becomes certified.

Financial Strength Rating granted by the NHID
Minimum Amount Withheld for Full Credit
Secure-1 0%
Secure-2 10%
Secure-3 20%
Secure-4 50%
Secure-5 75%
Vulnerable-6 100%

 

Filing requirements to qualify as a Certified Reinsurer with the NHID: completed application must be submitted in a tabbed binder. Approvals are on a calendar year basis - January 1st through December 31st.

Reinsurer must be domiciled and licensed to transact insurance or reinsurance in a Qualified Jurisdiction.

  • Full Application Checklist Adobe Acrobat Reader Symbol- For Reinsurers that have not been certified as a reinsurer in an NAIC accredited state. Annual renewal due on or before July 1st.
    • Separate hard copy of the application for public viewing **do not submit confidential documents with this copy**
    • U.S. domiciled reinsurers - current Annual Statement, Schedule F (P&C reinsurer) or Schedule S (Life & Health reinsurer)
    • Non-U.S. domiciled reinsurer - CR-F form Adobe Acrobat Reader Symbol(P&C reinsurer) or CR-S form Adobe Acrobat Reader Symbol(Life & Health reinsurer)
    • Current Certificate of Good Standing from domestic regulator
    • Current Audited Financial Statement
    • The company must also maintain a minimum surplus, or its equivalent, of $250.0 million calculated in accordance with Ins 601(b)(4)h.
    • An assuming insurer applying to be a Certified Reinsurer shall agree to post 100% security for the benefit of the ceding insurer or its estate upon the entry of an order of rehabilitation, liquidation or conservation against the ceding insurer.
  • Passporting Application Checklist Adobe Acrobat Reader Symbol- For Reinsurers with an application that has been approved by a U.S. lead state and reviewed by the NAIC Reinsurance Financial Analysis (E) Working Group (ReFAWG) that is seeking certified reinsurer status in New Hampshire. Annual renewal due on or before October 1st each year.
  • CR-1 formAdobe Acrobat Reader Symbol

Please review Ins 601.06 - Credit for Reinsurance – Certified Reinsurers

The reinsurer will be notified in writing after reviewing the application if approved/denied. Included in such notice shall be the rating assigned the Certified Reinsurer in accordance with Ins 601.06(a)(1).

To continue to qualify as a Certified Reinsurer an application needs to be filed annually with the NHID and obtain approval.

Also note that notification of any regulatory actions taken against the Certified Reinsurer, any change in the provisions of the domiciliary license or any change in rating by an approved rating agency, including a statement describing such changes and the reasons therefore must be submitted to the NH Insurance Department within 10 days of such action. Ins 601.06(b)(7)a.

Applicants Seeking Certified Reinsurer Status:

  • none

Applicants Seeking Renewal of Certified Reinsurer Status:

  • none
Current List of Certified Reinsurers:
Certified Reinsurer# Federal/Alien ID Certified Reinsurer Jurisdiction Initial Certification Date Current Effective Date of Certification Financial Strength Rating
CR-3194128 AA-3194128 Allied World Assurance Company, Ltd Bermuda July 1, 2014 July 1, 2015 - December 31, 2016 Secure-3
CR-3194126 AA-3194126 Arch Reinsurance Ltd Bermuda July 1, 2014 July 1, 2015 - December 31, 2016 Secure-3
CR--3194130 AA-3194130 Endurance Specialty Insurance Ltd. Bermuda October 27, 2015 October 27, 2015 - December 31, 2016 Secure-4
CR-1340125 AA-1340125 Hannover Rück SE Germany July 1, 2014 July 1, 2015 - December 31, 2016 Secure-2
CR-1460021 98-1032346 Swiss Re Corporate Solutions, Ltd Switzerland January 1, 2014 July 1, 2015 - December 31, 2016 Secure-3
CR-1460146 AA-1460146 Swiss Reinsurance Company, Ltd Switzerland January 1, 2014 July 1, 2015 - December 31, 2016

Secure-2

Contacts:

Patricia Gosselin
Chief Financial Analyst

[email protected]

 

Mary Verville
Senior Financial Analyst

[email protected]

 

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New Hampshire Insurance Department | 21 South Fruit Street, Suite 14 | Concord, NH 03301
Phone 603.271.2261 | Fax 603.271.1406 | Consumer Hotline 1.800.852.3416

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