Section Ins 601.04 - Credit for Reinsurance - Reinsurer Domiciled in Another State(a) Pursuant to RSA 405:47, III, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that as of any date on which statutory financial statement credit for reinsurance is claimed: (1) Is domiciled in (or, in the case of a U.S. branch of an alien assuming insurer, is entered through) a state that employs standards regarding credit for reinsurance substantially similar to those applicable under RSA 405:45, RSA 405:46, RSA 405:47, RSA 405:48, RSA 405:49, RSA 405:50, and this rule. (2) Maintains a surplus as regards policyholders in an amount not less than $20,000,000; and (3) Files a properly executed Form AR-1 with the commissioner as evidence of its submission to this state's authority to examine its books and records. (b) The provisions of this section relating to surplus as regards policyholders shall not apply to reinsurance ceded and assumed pursuant to pooling arrangements among insurers in the same holding company system. As used in this section, "substantially similar" standards means credit for reinsurance standards that the commissioner determines equal or exceed the standards of RSA 405 and this rule. N.H. Admin. Code § Ins 601.04
(See Revision Note at chapter heading for Ins 600) #6090, eff 9-7-95, EXPIRED: 9-7-03
New. #8240, eff 1-3-05; ss by #8827, eff 3-1-07; ss by #10449, eff 11-1-13
Amended by Volume XLI Number 49, Filed December 9, 2021, Proposed by #13296, Effective 11/24/2021, Expires 11/24/2031