230 R.I. Code R. 230-RICR-20-55-2.6

Current through December 3, 2024
Section 230-RICR-20-55-2.6 - Reporting Requirements
A. In addition to all other requirements of this Part, every Alien Insurance Company that has been granted a License shall, not later than the first day of March in each year and forty-five (45) days after the end of each of the first three (3) calendar year quarters, file with the Commissioner and with the National Association of Insurance Commissioners:
1. Annual and quarterly statements of the business transacted within the United States and the assets held by or for it within the United States for the protection of policyholders and creditors within the United States, and of the liabilities incurred against such assets. The forms shall not contain any statement in regard to its assets and business elsewhere unless said forms are filed as a supplement to the statements required herein. The statements shall be in the same format required of an insurer domiciled in Rhode Island and licensed to write the same kind(s) of insurance;
2. A statement of Trusteed Surplus, in such form as the Commissioner may prescribe, as of the end of the same period covered by the statement filed pursuant to § 2.6(A)(1) of this Part. In determining the net amount of the United States Branch's liabilities in the United States to be reported in the statement of Trusteed Surplus, the United States Branch shall make adjustments to total liabilities reported on the accompanying annual or quarterly statement as prescribed by the Commissioner; and
3. Any additional information that the Commissioner may require relating to the total business or assets, or any portion thereof, of the Alien Insurance Company.
B. The annual statement and Trusteed Surplus statement shall be signed and verified by the United States manager, attorney-in-fact, or a duly empowered assistant United States manager, of the United States Branch. The items of securities and other property held under a deed of trust as Trusteed Assets shall be certified in the Trusteed Surplus statement by the United States trustee(s).
C. Every report on examination of a United States Branch shall include a Trusteed Surplus statement as of the date of examination in addition to the general statement of the financial condition of the United States Branch.

230 R.I. Code R. 230-RICR-20-55-2.6