Credit for Reinsurance

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

Corresponding Exhibit Forms

Uniform Application Checklist for Certified Reinsurers

Form CR-1

Form CR-F

Form CR-F Instructions

Form CR-S

Form CR-S Instructions


Reciprocal Reinsurers

Uniform Application Checklist for Reciprocal Reinsurers

RJ-1

If you would like to provide comments regarding the application for status as a certified or reciprocal reinsurer listed herein you may email your comments to fnclmail@doi.sc.gov.

Application Notices - No current applications

Federal/Alien IDCertified/Reciprocal ReinsurersDomiciliary JurisdictionDate PostedResponse Deadline






Currently approved

Federal/Alien IDCertified ReinsurersDomiciliary JurisdictionDuration of CertificationLines of Business Certified to Reinsurer
AA-1340125Hannover Rück SEGermanyJanuary 1, 2023 to December 31, 2023Life, Annuities, Accident/Health, Property/Casualty
AA-1320152Chubb European Group SEFranceJanuary 1, 2023 to December 31, 2023
Accident/Health, Property/Casualty
AA-3194126Arch Reinsurance Ltd.BermudaJanuary 1, 2023 to December 31, 2023
Life, Annuities, Accident/Health, Marine, Property/Casualty
AA-3194130Endurance Specialty Ltd.BermudaJanuary 1, 2023 to December 31, 2023
Life, Annuities, Accident/Health, Property/Casualty
AA-3192150Somers Re Ltd.BermudaJanuary 1, 2023 to December 31, 2023
Property/Casualty

AA-31991289
Fidelis Insurance Bermuda Ltd.
BermudaJanuary 1, 2023 to December 31, 2023
Property/Casualty


AA-1120175
Fidelis Underwriting Ltd.
United KingdomJanuary 1, 2023 to December 31, 2023
Property/Casualty


AA-1460019
MS Amlin AG
Switzerland
January 1, 2023 to December 31, 2023
Property/Casualty



Reciprocal Reinsurers




RJ-1340125
Hannover Rück SE
Germany
January 1, 2023 to December 31, 2023
Life, Annuities, Accident/Health, Property/Casualty
RJ-1780044
Hannover Re (Ireland) DAC
Ireland
January 1, 2023 to December 31, 2023
Life & Health, Property/Casualty
RJ-1120175
Fidelis Underwriting Ltd.
United Kingdom
January 1, 2023 to December 31, 2023
Property/Casualty
RJ-3194126
Arch Re Ltd.
Bermuda
January 1, 2023 to December 31, 2023
Life, Annuities, Accident/Health, Property/Casualty

RJ-3190871
Lancashire Insurance Company Ltd.
Bermuda
January 1, 2023 to December 31, 2023
Property/Casualty
RJ-3191400
Convex Re Ltd.
Bermuda
January 1, 2023 to December 31, 2023
Property/Casualty
RJ-1120191
Convex Insurance UK Ltd.
United Kingdom
January 1, 2023 to December 31, 2023
Property/Casualty
RJ-3190686
Partner Re Co Ltd.
Bermuda
January 1, 2023 to December 31, 2023
Life, Annuities, Accident/Health, Property/Casualty

RJ-3192150
Somers Re Ltd.
Bermuda
January 1, 2023 to December 31, 2023
Property/Casualty
See Lloyds listUnderwriters at Lloyd'sUnited KingdomJanuary 1, 2023 to December 31, 2023Property/Casualty, Life, Accident/Health


Listing of Qualified Jurisdictions

Pursuant to the NAIC Credit for Reinsurance Model Law (#785), S.C. Code 38-9-200 and S.C. Regulation 69-53, U.S. jurisdictions that meet the requirement for accreditation under the NAIC financial standards and accreditation program shall be recognized as qualified jurisdictions.

JurisdictionRegulatory Authority
BermudaThe Bermuda Monetary Authority (BMA)
FranceAutorité Contrôle Prudentiel et de Résolution (ACPR)
GermanyGerman Federal Financial Supervisory Authority (BaFin)
IrelandCentral Bank of Ireland (Central Bank)
JapanFinancial Services Agency of Japan (FSA)
SwitzerlandThe Swiss Financial Market Supervisory Authority (FINMA)
United KingdomThe Prudential Regulation Authority of the Bank of England (PRA)