2024 Membership

2025 Proposed Charges

The mission of the Reinsurance (E) Task Force is to monitor and coordinate activities and areas of interest that overlap to some extent the charges of other NAIC groups—specifically, the International Insurance Relations (G) Committee.

The Reinsurance (E) Task Force will:

1. Provide a forum for the consideration of reinsurance-related issues of public policy.
2. Oversee the activities of the Reinsurance Financial Analysis (E) Working Group.
3. Coordinate with the Mutual Recognition of Jurisdictions (E) Working Group on matters regarding reinsurance.
4. Communicate and coordinate with the Federal Insurance Office (FIO), other federal authorities, and international regulators and authorities on matters pertaining to reinsurance.
5. Monitor reinsurance-related activities of other task forces and working groups at the NAIC.
6. Consider any other issues related to Model #785, Model #786, and Model #787.
7. Monitor the development of international principles, standards, and guidance with respect to reinsurance. This includes, but is not limited to, monitoring the activities of various groups within the International Association of Insurance Supervisors (IAIS), including the Reinsurance and Other Forms of Risk Transfer Subcommittee, the Reinsurance Mutual Recognition Subgroup, and the Reinsurance Transparency Group.
8. Consider the impact of reinsurance-related federal legislation, including, but not limited to, the federal Nonadmitted and Reinsurance Reform Act (NRRA) and the Federal Insurance Office Act, and coordinate any appropriate NAIC action.
9. Continue to monitor the impact of reinsurance-related international agreements, including the “Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance” (EU Covered Agreement) and the “Bilateral Agreement Between the United States of America and the United Kingdom on Prudential Measures Regarding Insurance and Reinsurance” (UK Covered Agreement).

2024 Adopted Charges

The mission of the Reinsurance (E) Task Force is to monitor and coordinate activities and areas of interest that overlap to some extent the charges of other NAIC groups—specifically the International Insurance Relations (G) Committee.

The Reinsurance (E) Task Force will:

1. Provide a forum for the consideration of reinsurance-related issues of public policy.
2. Oversee the activities of the Reinsurance Financial Analysis (E) Working Group.
3. Communicate and coordinate with the Federal Insurance Office (FIO), other federal authorities, and international regulators and authorities on matters pertaining to reinsurance.
4. Consider any other issues related to the revised Credit for Reinsurance Model Law (#785), Credit for Reinsurance Model Regulation (#786), and Term and Universal Life Insurance Reserve Financing Model Regulation (#787).
5. Monitor the development of international principles, standards, and guidance with respect to reinsurance. This includes, but is not limited to, monitoring the activities of various groups within the International Association of Insurance Supervisors (IAIS), including the Reinsurance and Other Forms of Risk Transfer Subcommittee, the Reinsurance Mutual Recognition Subgroup, and the Reinsurance Transparency Group.
6. Consider the impact of reinsurance-related federal legislation, including, but not limited to, the federal Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) and the Federal Insurance Office Act, and coordinate any appropriate NAIC action.
7. Continue to monitor the impact of reinsurance-related international agreements, including the “Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance” (EU Covered Agreement) and the “Bilateral Agreement Between the United States of America and the United Kingdom on Prudential Measures Regarding Insurance and Reinsurance” (UK Covered Agreement).

The following Working Group provides direct support to the Reinsurance Task Force:

• Reinsurance Financial Analysis Working Group

KEY DOCUMENTS OF THE REINSURANCE (E) TASK FORCE

Public Notice

• Certified and Reciprocal Jurisdiction Reinsurers
• Qualified Jurisdictions
• Reciprocal Jurisdictions

Credit for Reinsurance Model Law (#785)

On June 25, 2019, the NAIC Executive (EX) Committee and Plenary adopted revisions to the Credit for Reinsurance Model Law (#785) which incorporate relevant provisions of the Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance ("Covered Agreement"). Prior adopted revisions to the model are included as a reference.

• Credit for Reinsurance Model Law (#785): Adopted on 06-25-19
• Credit for Reinsurance Model Law (#785): Adopted on 01-08-16
• Credit for Reinsurance Model Law (#785): Adopted on 11-06-11

Credit for Reinsurance Model Regulation (#786)

On June 25, 2019, the NAIC Executive (EX) Committee and Plenary adopted revisions to the Credit for Reinsurance Model Regulation (#786) which incorporate relevant provisions of the Bilateral Agreement Between the United States of America and the European Union on Prudential Measures Regarding Insurance and Reinsurance ("Covered Agreement"). Prior adopted revisions to the model are included as a reference.

• Credit for Reinsurance Model Regulation (#786): Adopted on 06-25-19
• Credit for Reinsurance Model Regulation (#786): Adopted on 11-06-11

Term and Universal Life Insurance Reserve Financing Model Regulation (#787)

On December 13, 2016, the NAIC Executive (EX) Committee and Plenary adopted the Term and Universal Life Insurance Reserve Financing Model Regulation (#787).

• Term and Universal Life Insurance Reserve Financing Model Regulation (#787)

Process for Evaluating Qualified and Reciprocal Jurisdictions

On August 17, 2021, the NAIC Executive (EX) Committee and Plenary adopted revisions to the Process for Evaluating Qualified and Reciprocal Jurisdictions to incorporate provisions for terminating the status of a qualified jurisdiction or reciprocal jurisdiction and create a passporting process for reciprocal jurisdictions.

• Process for Evaluating Qualified and Reciprocal Jurisdictions

ReFAWG Review Process for Passporting Certified and Reciprocal Jurisdiction Reinsurers

On December 16, 2021, the NAIC Executive (EX) Committee and Plenary adopted the ReFAWG Review Process for Passporting Certified and Reciprocal Jurisdiction Reinsurers to clarify the passporting processes for both certified reinsurers and reciprocal jurisdiction reinsurers.

• ReFAWG Review Process for Passporting Certified and Reciprocal Jurisdiction Reinsurers

NAIC List of Reciprocal Jurisdictions

• NAIC List of Reciprocal Jurisdictions

Summary of Findings and Determination for Reciprocal Jurisdictions

• Bermuda: Bermuda Monetary Authority (BMA)
• Japan: Financial Services Agency (FSA)
• Switzerland: Financial Market Supervisory Authority (FINMA)

NAIC List of Qualified Jurisdictions

• NAIC List of Qualified Jurisdictions

Summary of Findings and Determination for Qualified Jurisdictions

• Bermuda: Bermuda Monetary Authority (BMA)
• France: Autorité de Contrôle Prudentiel et de Résolution (ACPR)
• Germany: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
• Ireland: Central Bank of Ireland
• Japan: Financial Services Agency (FSA)
• Switzerland: Financial Market Supervisory Authority (FINMA)
• United Kingdom: Prudential Regulation Authority of the Bank of England