Reinsurers

• Accredited assuming insurers
• Trusteed assuming insurers
• Certified reinsurers
• Reciprocal jurisdiction reinsurers

Accredited assuming insurers

Accredited assuming insurers are authorized to sell insurance in their state of domicile but not in Texas.

Initial Filing

• Submit the application checklist (FIN197) and AR-1 certificate of accredited assuming insurer (FIN189) to clrfilings@tdi.texas.gov

Annual and Quarterly Filing Requirements

• Submit the list of ceding insurers every quarter on or before March 1, May 15, August 15, and November 15 through the financial filing submission portal.
• File the annual renewal by submitting the FIN197 and FIN189 on or before March 1 through the financial filing submission portal.
• File an annual financial statement with NAIC on or before March 1.

Relevant statute and code

• Texas Insurance Code Chapter 493
• 28 Texas Administrative Code Section 7.606

Trusteed assuming insurers

Trusteed assuming insurers are insurance companies that are domiciled outside of the U.S. and are registered – but not licensed – to sell insurance in Texas.

How to become an trusteed assuming insurer

Fill out the Application checklist (Form FIN197) and email it to CLRfilings@tdi.texas.gov.

Filing requirements

File an annual financial statement and trust information on or before February 28 through the financial filing submission portal.

Relevant statute and code

• Texas Insurance Code, Chapter 493
• Texas Administrative Code, Section 7.607

Certified reinsurers

TDI certifies certain reinsurers that meet our strong financial criteria. A certified reinsurer is allowed to provide a reduced amount of collateral because they agree to provide information to TDI. This provides TDI with more oversight of the reinsurer.

How to become a certified reinsurer

Fill out these two forms and email them to CLRfilings@tdi.texas.gov

• Uniform Application Checklist for Certified Reinsurer (Form FIN188)
• CR-1 Certificate of Certified Reinsurer (Form FIN190)

Filing requirements

Financial filings with TDI each year by July 1 through the financial filing submission portal.

• CR-F Reinsurance - Property/Casualty Business (Form FIN191, Excel)
• NAIC Instructions for CR-F
• CR-S Reinsurance - Life Insurance, Annuities, Deposit Funds and Other Liabilities, and Accident and Health Insurance (Form FIN192, Excel)
• NAIC Instructions for CR-S

Relevant statute and code

• Texas Insurance Code, Chapter 493
• Texas Administrative Code, Section 7.621

Pending applications for public comment

Pending applications are posted for 30 days before TDI takes final action on the application. ( Texas Administrative Code, Section 7.622). Send comments or questions to companylicense@tdi.texas.gov. In the subject line, write “Certified Reinsurer Application.”

NONE AT THIS TIME

Qualified jurisdictions

• Bermuda
• France
• Germany
• Ireland
• Japan
• Switzerland
• United Kingdom

Reciprocal jurisdiction reinsurers

A reciprocal jurisdiction reinsurer is licensed by another jurisdiction and maintains its principal office or is domiciled in that other jurisdiction.

How to become a reciprocal jurisdiction reinsurer

Fill out these two forms and email them to CLRfilings@tdi.texas.gov along with any supporting documents

• Uniform Checklist for Reciprocal Jurisdiction Reinsurers (Form FIN187)
• RJ-1, Certificate of Reinsurer Domiciled in Reciprocal Jurisdiction (Form FIN193)

Filing requirements

If Texas is the company's lead state file an annual renewal (FIN187 and FIN193) and financials each year by July 1 through the financial filing submission portal.

For companies passporting to Texas, file the annual renewal (FIN187 and FIN193) each year by July 1 through the financial filing submission portal but omit the financials.

Relevant statute and code

• Texas Insurance Code, Section 493
• Texas Administrative Code, Section 7.615

Lists of jurisdictions

• Reciprocal Jurisdictions
• Accredited US Jurisdictions