§ 1448. Short title

This subchapter is entitled “Life and Health Reinsurance Agreements”.

§ 1448a. Scope

This subchapter applies to all domestic life and accident and health insurers and to all other licensed life and accident and health insurers which are not subject to a substantially similar law or regulation in their domiciliary state. This subchapter also similarly applies to licensed property and casualty insurers with respect to their accident and […]

§ 1448b. Accounting requirements

(1) No insurer subject to this subchapter shall, for reinsurance ceded, reduce any liability or establish any asset in any financial statement filed with the Commissioner if, by the terms of the reinsurance agreement, in substance or effect, any of the following conditions exist: (A) Renewal expense allowances provided or to be provided to the […]

§ 1448c. Written agreements

(1) No reinsurance agreement or amendment to any agreement may be used to reduce any liability or to establish any asset in any financial statement filed with the Commissioner, unless the agreement, amendment or a binding letter of intent has been duly executed by both parties no later than the “as of date” of the […]

§ 1448d. Existing agreements

Insurers subject to this subchapter shall reduce to zero no later than nine months following the effective date of this subchapter any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of this subchapter which, under the provisions of this subchapter would not be entitled to recognition […]