Certified Reinsurers

IID allows credit for reinsurance ceded by a domestic insurer to an assuming insurer that has been certified as a reinsurer in Iowa at all times for which statutory financial statement credit for reinsurance is claimed.  The credit allowed is based upon the security held by or on behalf of the ceding insurer in accordance with a rating assigned to the certified reinsurer by IID.  

How to become a certified reinsurer

For reinsurers with an application that has been approved by a U.S. lead state and reviewed by the NAIC Reinsurance Financial Analysis (E) Working Group (ReFAWG) that is seeking certified reinsurer status in Iowa.  Annual renewals are due on or before November 1st of each year.

Fill out the two forms below along with the applicable CR-F or CR-S form and email them to reinsurer.filings@iid.iowa.gov.

The examination fee for a new certified reinsurer is $2,000 payable by check to the Iowa Insurance Division.  Please remit payment by mail with the heading "Iowa Certified Reinsurer."  There is no filing fee for the renewal of a certified reinsurer. 

The reinsurer will be notified in writing after reviewing the application if approved/denied.  Included in such notice shall be the rating assigned to the certified reinsurer.

If the applicant intends to apply for full certification in Iowa please email the Division at reinsurer.filings@iid.iowa.gov before submitting the application.  Please include the subject line "Certified Reinsurer request for full certification."

Relevant chapter and administrative rule

Pending applications for public comment

Pending applications are posted for 30 days before IID takes final action on the application.  (Iowa Administrative rule 191-5.33(7)"b"(1)).  Send comments or questions to reinsurer.filings@iid.iowa.gov.  In the subject line, write "Certified Reinsurer Application."

 

List of Approved Certified Reinsurers