Reciprocal Jurisdiction Reinsurers

Qualifying as a Reciprocal Jurisdiction Reinsurer
Full Application
Passport Application
Maintaining Reciprocal Jurisdiction Reinsurer Status
Annual Renewal Application
Annual Passport Application
Application and Filing Procedures Summary - Initial and Renewal Forms
Helpful Link(s)
Reinsurance Agreement Required Provision
Contact Info

Current Reciprocal Jurisdiction Reinsurers

Note:

(1) For syndicate specific list, see "Lloyds List" tab

Background Information

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 CSR 200-2.100(7) implements the Covered Agreements with regard to reinsurance.

Reciprocal Jurisdictions Designated by the Director

Bermuda, Japan, and Switzerland

NOTE: In addition to the list above, any U.S. jurisdiction that meets the requirements for accreditation under the NAIC financial standards and accreditation program are recognized as reciprocal jurisdictions.

Qualifying as a Reciprocal Jurisdiction Reinsurer

Full Application

Reciprocal Jurisdiction Reinsurers requesting Missouri to act as its “Lead State” for NAIC Reinsurance Financial Analysis (E) Working Group (ReFAWG) and passporting purposes should file a full application, meaning complete Section I on the Uniform Checklist for Reciprocal Jurisdiction Reinsurers and complete all the necessary corresponding exhibits detailed in that section of the checklist.

Please email the initial application to laurie.pleus@insurance.mo.gov  and InsuranceSolvency@insurance.mo.gov.

The initial application fee of $1,000 may be submitted as a check or the fee may be paid electronically. For electronic payment instructions see General Instructions.

Corresponding Exhibit Forms

Form RJ-1

Passport Application

Reciprocal Jurisdiction Reinsurers who have established their Lead State with an NAIC accredited jurisdiction other than Missouri, whose initial application has been reviewed by ReFAWG, and would like their reciprocal jurisdiction reinsurer status recognized in Missouri should file a passport application, meaning complete Section II on the Uniform Checklist for Reciprocal Jurisdiction Reinsurers, and complete all the necessary corresponding exhibits detailed in that section of the checklist.  

Please email the initial application to laurie.pleus@insurance.mo.gov and InsuranceSolvency@insurance.mo.gov.                                               

The initial application fee of $1,000 may be submitted as a check with the application documents or the fee may be paid electronically. For electronic payment instructions see General Instructions.

Corresponding Exhibit Forms

Form RJ-1

Maintaining Reciprocal Jurisdiction Reinsurer Status

Pursuant to section 375.246 of the Missouri Insurance Code, the Director requests a reinsurer to annually file specific information to maintain reciprocal jurisdiction reinsurer status.

Please email the annual renewal application to laurie.pleus@insurance.mo.gov and InsuranceSolvency@insurance.mo.gov.

The annual renewal fee of $2,000 may be submitted as a check or the fee may be paid electronically.  For electronic payment instructions see General Instructions.

Annual Renewal Application

Applicants that filed a full application where Missouri is its lead state should annually complete Section I of the Uniform Checklist for Reciprocal Jurisdiction Reinsurers and file all of the necessary corresponding exhibits detailed in that section of the checklist.

Annual Passport Application

Applicants that have passported into Missouri should annually complete Section II on the Uniform Checklist for Reciprocal Jurisdiction Reinsurers and file all of the necessary corresponding exhibits detailed in that section of the checklist.

Application and Filing Procedures Summary - Initial and Renewal

Applicants shall submit the following for both initial and annual renewal applications:

1. Uniform Checklist for Reciprocal Jurisdiction Reinsurers including all necessary corresponding documentation detailed in the checklist. If the applicant is requesting Missouri to be the lead state, Part I should be completed. If applicant is recognized as a reciprocal jurisdiction reinsurer in another NAIC accredited jurisdiction, only Part II should be completed.
2. Form RJ-1
3. Any other documentation deemed necessary by the Director.
4. Initial application fee of $1,000; Renewal Fee of $2,000. Payment may be submitted by check or electronically. Electronic payment instructions at General Instructions.

The reciprocal jurisdiction reinsurer status will run through the end of the calendar year unless otherwise determined by the Director.

Forms

• Uniform Checklist for Reciprocal Jurisdiction Reinsurers
• RJ-1: Certificate of Reinsurer Domiciled in Reciprocal Jurisdction

Helpful Link(s):

ReFAWG Review Process for Passporting Certified and Reciprocal Jurisdiction Reinsurers:

Reinsurance Financial Analysis (E) Working Group
ReFAWG Review Process for Passporting Certified and Reciprocal Jurisdiction Reinsurers
Listing of Certified and Reciprocal Jurisdiction Reinsurers

Reinsurance Agreement Required Provision

A reciprocal jurisdiction reinsurer must include the provision required by Regulation 20 CSR 200-2.100(7)(C)4D  in all reinsurance contracts with Missouri cedents.

Contact Information

Please direct any questions to:
Laurie Pleus, CPA, ARe (Associate in Reinsurance)
Senior Reinsurance Examiner
Missouri DCI
301 W. High St., Suite 530
Jefferson City, MO 65101
Laurie.Pleus@insurance.mo.gov
573-526-2797