S.D. Admin. R. 20:06:09:40
If the transaction is a reinsurance agreement or a modification to a reinsurance agreement as described by SDCL 58-5A-56(3)(b) or a reinsurance pooling agreement or modification as described by SDCL 58-5A-56(3)(a), the person making a Form D filing must furnish a description of the known or estimated amount of liability to be ceded or assumed in each calendar year, the period of time during which the agreement will be in effect, and a statement whether an agreement or understanding exists between the insurer and nonaffiliate to the effect that any portion of the assets constituting the consideration for the agreement will be transferred to one or more of the insurer's affiliates. The person must also furnish a brief description of the consideration involved in the transaction and a brief statement of the effect of the transaction on the insurer's surplus.
No notice need be given for reinsurance agreements or modifications to them if the reinsurance premium or a change in the insurer's liabilities, or the projected reinsurance premium or change in the insurers liabilities in any of the next three years, in connection with the reinsurance agreement or modification is less than five percent of the insurer's surplus as regards policyholders as of the last December 31. Notice shall be given for all reinsurance pooling agreements including modifications thereto.
S.D. Admin. R. 20:06:09:40
General Authority: SDCL 58-5A-70.
Law Implemented: SDCL 58-5A-70.