X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The Florida Office of Insurance Regulation (OIR) has signed agreements with three Bermuda-based reinsurers to participate in Florida’s insurance marketplace under modified regulatory terms. The three companies are Ace Tempest Reinsurance Ltd., Hiscox Insurance Co. [Bermuda] Limited, and Partner Reinsurance Company Ltd.

During the 2007 special session, lawmakers passed legislation that authorized OIR to establish lower collateral requirements for alien (non-U.S.) reinsurers that are highly rated and financially sound. With this action, OIR has now authorized a total of six reinsurance companies to operate in Florida under these modified terms. The three companies approved earlier this year are Hannover Reinsurance, Hannover Insurance (Bermuda), and XL Re Ltd.

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.