In order to be eligible as a certified reinsurer in South Carolina, an assuming insurer must meet the following requirements:
- Domiciled and licensed as an insurer or reinsurer in a “qualified jurisdiction”
- Maintain minimum capital and surplus of no less than $250,000,000
- Maintain financial strength ratings from two or more rating agencies deemed acceptable to the Commissioner
- Agree to submit to the jurisdiction of South Carolina
- Submit financial information for regulatory review
- Satisfy other requirements established by the Commissioner
If you would like to provide comments regarding the application for status as a certified reinsurer listed herein you may email your comments to fnclmail@doi.sc.gov..
Uniform Application Checklist for Certified Reinsurers
CR-1
| Federal/Alien ID | Certified Reinsurers | Domiciliary Jurisdiction | Duration of Certification | Rating | Lines of Business Certified to Reinsurer |
|---|
| AA-1340125 | Hannover Rück SE | Germany | January 1, 2020 to December 31, 2020 | Secure 2 | Life, Annuities, Accident/Health, Property/Casualty |