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Bookmark or Share- Reinsurance Asset Adequacy Testing (AAT) Life Actuarial Task Force• Significant reserve decrease due to reinsurance or use of non -primary security to back reserves • Collectability risk associated with the reinsurer is significant • Perhaps consideration of affiliated status or protections such as trusts or funds withheld • Generally targeting optimistic judgment on key assumptions or more favorable
- Statutory Issue Paper No. 75 Property and Casualty Reinsurance9. Reinsurance recoverables on paid losses and loss adjustment expenses are reported as an asset under both statutory accounting and GAAP. Reinsurance recoverables on unpaid losses and loss adjustment expenses also meet the statutory definition of an asset established in Issue Paper No. 4—
- Certified and Reciprocal Jurisdiction ReinsurersThe NAIC has compiled a list of the NAIC member jurisdiction webpages containing state specific information regarding certified and reciprocal jurisdiction reinsurers. This is intended for informational purposes only to facilitate accurate reporting of reinsurance transactions within the statutory financial statements. Alabama: Certified
- Insurance Topics | Reinsurance | NAICActions. On June 25, 2019, the Executive (EX) Committee and Plenary adopted revisions to Model #785 and Model #786, which implement the reinsurance collateral provisions of the “Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance” (EU Covered Agreement) and “Bilateral Agreement Between the United ...
- IP No. 162 - National Association of Insurance CommissionersReinsurance which were drafted to clarify the application of existing concepts in SSAP No. 62R. 2. The substantive revisions to SSAP No. 62R (illustrated in Exhibit A), are intended to clarify reinsurance risk-transfer requirements and that reinsurance accounting credit for contracts that pass risk transfer is only for the amount of risk ceded.
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