NAIC gives green light to reduced collateral model
Non-US reinsurers could be eligible for reduced collateral requirements when writing reinsurance business in the US, under new laws unveiled on 6 November by the National Association of Insurance Commissioners (NAIC).
Under the current formulation, for ceding companies in the US to gain full reinsurance credit for their cover they must either cede their premiums to a US-licensed reinsurer or have their reinsurer post 100 percent collateral against potential US liabilities.
However, the revised laws will enable non-US reinsurers in...
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