Reciprocal Jurisdiction Reinsurer Information

Background

The federal Dodd-Frank Wall Street Reform and Consumer Protection Act authorized the U.S. Treasury Secretary and the U.S. Trade Representative to negotiate and enter into covered agreements, which are international agreements relating to the recognition of prudential measures with respect to the business of insurance or reinsurance that achieve a level of protection for insurance or reinsurance consumers that is substantially equivalent to the level of protection achieved under state insurance or reinsurance regulation.

To date, the United States has entered into covered agreements with the European Union and United Kingdom. These Covered Agreements mandate credit for reinsurance ceded to certain reciprocal jurisdiction reinsurers and eliminate security requirements on certain assuming insurers domiciled in the E.U. or the U.K. that reinsure business from ceding insurers domiciled in the U.S., provided that certain regulatory criteria are met.

Insurance Regulation 20 (11 NYCRR 125) implements the Covered Agreements with regard to reinsurance.

Qualifying as a Reciprocal Jurisdiction Reinsurer

An assuming insurer seeking to qualify as a reciprocal jurisdiction reinsurer (Company) should submit to the applicable Bureau contact listed below the Checklist for Reciprocal Reinsurers and the information set forth therein, including Form RJ-1, Form RJ-F, and Form RJ-S, via email and separately by mail to the applicable Bureau contact a check in the amount of $2,000 made payable to “Superintendent of Financial Services.”

Please review the Form RJ-F instructions and Form RJ-S instructions before submitting these forms.

Once qualified, a Company must resubmit the foregoing forms and information by June 30 of each year.

Current Reciprocal Jurisdictions

Reciprocal Jurisdictions Subject to a Covered Agreement

United Kingdom of Great Britain and Northern Ireland

Member States of the European Union: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

Reciprocal Jurisdictions Accredited by the NAIC

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, U.S. Virgin Islands, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

Reciprocal Jurisdictions Designated by the Superintendent

Bermuda, Japan, and Switzerland.

Current Reciprocal Jurisdiction Reinsurers

Federal/Alien ID Reciprocal Jurisdiction Reinsurers Jurisdiction Effective Date of Initial Recognition Lines of Business Reinsured
AA-3194126 Arch Reinsurance, Ltd. Bermuda 01/01/2022 Life; Annuities; Accident/Health; Property/Casualty
AA-3191352 Ascot Bermuda Limited Bermuda 08/31/2022 Property/Casualty
98-0522368 Aspen Bermuda Limited Bermuda 01/07/2022 Property/Casualty
AA-1120191 Convex Insurance UK Limited United Kingdom 01/01/2022 Property/Casualty; Accident/Health
AA-3191400 Convex Re Limited Bermuda 01/01/2022 Property/Casualty
AA-3194122 DaVinci Reinsurance Ltd. Bermuda 01/01/2022 Property/Casualty
98-0369174 Everest Reinsurance (Bermuda), Ltd. Bermuda 01/01/2022 Property/Casualty
98-1345402 Fortitude Reinsurance Company Ltd. Bermuda 01/01/2022 Life; Annuities; Property/Casualty
AA-3190060 Hannover Re (Bermuda) Ltd. Bermuda 01/01/2023 Property/Casualty
AA-1780044 Hannover Re (Ireland) DAC Ireland 01/01/2023 Life; Annuities; Accident/Health; Property/Casualty
98-0123855 Hannover Ruck SE Germany 01/01/2023 Life; Annuities; Accident/Health; Property/Casualty
AA-3191322 Harrington Re, Ltd. Bermuda 08/31/22 Property/Casualty
AA-1490002 Helvetia Swiss Insurance Company Ltd. Switzerland 01/01/2023 Life; Annuities; Accident/Health; Property/Casualty
98-0543563 Hiscox Insurance Company (Bermuda) Ltd. Bermuda 01/01/2023 Property/Casualty
AA-3190871 Lancashire Insurance Company Limited Bermuda 01/01/2022 Property/Casualty
AA-1460100 New Reinsurance Company Ltd. Switzerland 04/01/2022 Life; Annuities; Accident/Health; Property/Casualty
AA-3190686 Partner Reinsurance Company Ltd. Bermuda 01/01/2023 Life; Annuities; Accident/Health; Property Casualty
AA-1780078 Partner Reinsurance Europe SE Ireland 01/01/2022 Life; Annuities; Accident/Health; Property/Casualty
AA-3190339 Renaissance Reinsurance Ltd. Bermuda 01/01/2022 Property/Casualty
AA-1460023 RenaissanceRe Europe AG Switzerland 01/01/2022 Property/Casualty
AA-3191238 RenaissanceRe Specialty U.S. Ltd. Bermuda 01/01/2022 Property/Casualty
98-1435085 SCOR Ireland Dac Ireland 12/31/2021 (Life); 02/01/2022 (P/C) Life; Property/Casualty
13-1363527 Swiss Reinsurance Company Ltd. Switzerland 01/01/2022 Life; Annuities; Accident/Health; Property/Casualty
98-1180728 TransRe London Limited United Kingdom 01/01/2023 Property/Casualty
98-0043838 Underwriters at Lloyd’s, London United Kingdom 01/01/2022 Property/Casualty
AA-3191315 XL Bermuda Ltd. Bermuda 01/01/2023 Property/Casualty
AA-3190947 Zurich Global, Ltd. Bermuda 01/01/2022 Property/Casualty

Contact Information

Please direct questions to the appropriate contact person below.

Property/Casualty Companies

Maureen Carroll
Associate Insurance Examiner
New York State Department of Financial Services
Property Bureau
One Commerce Plaza
Albany, NY 12257

Life Insurance Companies

Roberto Paradis
Supervising Insurance Examiner
New York State Department of Financial Services
Life Bureau
One State Street
New York, NY 10004

Health Insurance Companies

Tom Dudek
Supervising Insurance Examiner
New York State Department of Financial Services
Health Bureau
One State Street
New York, NY 10004