Delaware Administrative Code
Title 18 - Insurance
1000 - Reinsurance
1001 - Life Reinsurance Agreements [Formerly Regulation 69]
Section 1001-2.0 - Preamble
Current through Register Vol. 28, No. 3, September 1, 2024
2.1 The Delaware Insurance Department recognizes that life insurers routinely enter into reinsurance agreements that yield legitimate relief to the ceding insurer from strain to surplus.
2.2 However, the Department has become aware that some life insurers, in the capacity of ceding insurer, have at times entered into reinsurance agreements, for the principal purpose of producing significant surplus aid for the ceding insurer, which provide little or no indemnification of policy benefits by the reinsurers. In addition, the Department is concerned with reserve credits taken under reinsurance agreements which provide some indemnification of policy benefits where those policy benefits are not included in the gross reserves established by the ceding insurer, such as catastrophic mortality or extraordinary survival. The terms of such agreements referred to herein and described in section 4.0 would violate:
