Reinsurance

Trusteed Reinsurers

Kansas Statutes Annotated (K.S.A.) 40-221a(a)(4) and K.S.A. 40-221b(f) provide for Trusteed Reinsurers, which may be reported as authorized reinsurers by Kansas domestic insurers.

Initial Filing Requirements

To apply for Trusteed Reinsurer status in the State of Kansas, the reinsurer must submit the following:

1. A formal written request for Trusteed Reinsurer status;
2. The most recent quarterly and annual financial statement of the trust.  Such statements should be substantially the same as that required to be reported on the National Association of Insurance Commissioners (NAIC) annual and quarterly statement form by licensed insurers to enable the commissioner to determine the sufficiency of the trust fund;
3. A listing of the trust’s investments at the end of the preceding year;
4. A certification of the balance of the trust from the trustee as of the most recent annual and quarterly statement date; and
5. A copy of the current deed of trust.  The deed of trust must comply with K.A.R. 40-1-43(b) and K.S.A. 40-221b(f) .

Subsequent Filing Requirements

Following approval, the Trusteed Reinsurer should submit the following information quarterly and as of year-end:

1. The financial statement of the trust reported substantially the same as that required to be reported on the NAIC annual and quarterly statement form by licensed insurers; and
2. A certification of the balance of the trust from the trustee as of the statement date.

Additionally, pursuant to K.S.A. 40-221b(f)(3)(v), no later than February 28 of each year, the trustees of the trust shall report to the Commissioner in writing setting forth the following:

1. The balance in the trust at the preceding year-end;
2. a listing of the trust’s investments at the preceding year-end; and
3. a certification of the date of termination of the trust, if so planned, or a certification that the trust shall not expire prior to the next following December 31.

A list of Kansas Cedents as of the preceding year-end should also be provided with the information provided on or before February 28 each year.

List of Trusteed Reinsurers in Kansas

Contact Information

Questions concerning Trusteed Reinsurers or the application process can be directed to:

Sarah Smith
Sarah.Smith@ks.gov
(785) 296-7819

Certified Reinsurers

Kansas Statutes Annotated (K.S.A.) 40-221a(a)(5) and K.S.A. 40-221b(g) provide for Certified Reinsurers, which may be reported as authorized reinsurers by Kansas domestic insurers.

Initial Filing Requirements

Full Application

Applicants that have not been certified as a reinsurer in a NAIC accredited jurisdiction should file a Full Application. Complete Section II of the Uniform Application Checklist for Certified Reinsurers and file all of the necessary corresponding exhibits.

Passporting Application

Reinsurers with an initial certification application that has been reviewed by ReFAWG that are seeking certified reinsurer status in Kansas should file a Passporting Application. Complete Section I of the Uniform Application Checklist for Certified Reinsurers and file all of the necessary corresponding exhibits.

Subsequent Filing Requirements

Annual Renewal Application

Certified Reinsurers that filed a Full Application in Kansas should annually complete Section II on the Uniform Application Checklist for Certified Reinsurers and file all of the necessary corresponding exhibits.

Annual renewal applications for applicants that filed a Full Application shall be submitted no later than August 15.

Annual Passporting Application

Certified Reinsurers that filed a Passporting Application in Kansas should annually complete Section I on the Uniform Application Checklist for Certified Reinsurers and file all of the necessary corresponding exhibits.

Annual renewal applications for applicants that filed a Passporting Application shall be submitted no later than October 15.

Corresponding Exhibits

• Form CR-1
• CR-F Instructions
• CR-S Instructions

Application Notices

The following companies have applied to become a certified reinsurer in Kansas:

Interested or affected parties have 30 days from the date notice is posted to submit written responses to the Certified Reinsurer Applications submitted to the Kansas Insurance Department. The Commissioner will not take final action on an application until at least 30 days after notice is posted.

Responses should be directed via e-mail to Sarah.Smith@ks.gov.

List of Certified Reinsurers in Kansas

List of Qualified Jurisdictions

NAIC List of Qualified Jurisdictions

Contact Information

Questions concerning Certified Reinsurers or the application or renewal process can be directed to:

Sarah Smith
Sarah.Smith@ks.gov
(785) 296-7819

Reciprocal Jurisdiction Reinsurers

Kansas Statutes Annotated (K.S.A.) 40-221a(a)(6) and K.S.A. 40-221b(h) provide for Reciprocal Jurisdiction Reinsurers, which may be reported as authorized reinsurers by Kansas domestic insurers.

Initial Filing Requirements

Full Application

Reciprocal jurisdiction reinsurers requesting Kansas 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 file all of the necessary corresponding exhibits.

Passporting Application

Reciprocal jurisdiction reinsurers who have established their Lead State with a NAIC accredited jurisdiction other than Kansas, whose initial application has been reviewed by ReFAWG, and who would like their Reciprocal Jurisdiction Reinsurer status recognized in Kansas should file a Passporting Application, meaning complete Section II on the Uniform Checklist for Reciprocal Jurisdiction Reinsurers and file all of the necessary corresponding exhibits.

Subsequent Filing Requirements

Annual Renewal Application

Reciprocal Jurisdiction Reinsurers that filed a Full Application in Kansas should annually complete Section I on the Uniform Checklist for Reciprocal Jurisdiction Reinsurers and file all of the necessary corresponding exhibits.

Annual renewal applications for applicants that filed a Full Application shall be submitted no later than August 15.

Annual Passporting Application

Reciprocal Jurisdiction Reinsurers that filed a Passporting Application in Kansas should annually complete Section II on the Uniform Checklist for Reciprocal Jurisdiction Reinsurers and file all of the necessary corresponding exhibits.

Annual renewal applications for applicants that filed a Passporting Application shall be submitted no later than October 15.

Corresponding Exhibits

Form RJ-1

List of Reciprocal Jurisdiction Reinsurers in Kansas

List of Reciprocal Jurisdictions

NAIC List of Reciprocal Jurisdictions

Contact Information

Questions concerning Reciprocal Jurisdiction Reinsurers or the application or renewal process can be directed to:

Sarah Smith
Sarah.Smith@ks.gov
(785) 296-7819