NAIC Examines Foreign Reinsurance Requirements

New Orleans

The battle between U.S. and foreign reinsurers ratcheted up a notch as the National Association of Insurance Commissioners continued its fact-finding on whether to endorse reducing collateral requirements for non-U.S. reinsurers.

The NAICs Reinsurance (G) Task Force, convened here for the group’s Fall National Meeting, heard a report addressing various aspects surrounding a proposal to reduce the requirement that alien reinsurers place 100 percent of estimated U.S. losses into a U.S. trust fund to qualify for credit for reinsurance.

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