New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter D - Reinsurance
Part 125 - Credit For Reinsurance
Section 125.9 - Credit taken under certain conditions

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 125.9
Current through Register Vol. 46, No. 39, September 25, 2024

Credit taken by an authorized insurer for a reinsurance treaty entered into on or after January 1, 2015 ceding term life insurance or universal life insurance with secondary guarantees or a reinsurance treaty entered into prior to January 1, 2015 ceding term life insurance or universal life insurance with secondary guarantees issued on or after January 1, 2015 to an authorized assuming insurer or accredited assuming insurer where the assuming insurer does not meet the exemptions in the National Association of Insurance Commissioners' Actuarial Guideline XLVIII, shall not exceed the amount of funds held by or on behalf of the ceding insurer as security for the payment of obligations for such reinsurance, provided such funds meet the requirements of the National Association of Insurance Commissioners' Actuarial Guideline XLVIII.

1 Actuarial Guideline XLVIII is included in the National Association of Insurance Commissioners' publication entitled the Accounting Prac- tices and Procedures Manual. See 11 NYCRR Section 83.2(c).

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