Browse Arkansas Code titles and sections
23-63-1611. Reinsurance.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-1611. Reinsurance.
(a) A captive insurance company may provide reinsurance under the Arkansas Insurance Code, on risks ceded by any other insurer.
(b) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers that are:
(1) Complying with § 23-62-305(a)-(f); or
(2) Not complying with § 23-62-305(a)-(f) upon approval of the captive insurance company's business plan by the Insurance Commissioner.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-1611
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-63-1611
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7932adbdd3b412328eb2ead52cd7eb0cb91367366d5a1461601281a2ca9067c3
Source location: content.xml paragraph 34081
Stored source content
23-63-1611. Reinsurance.
(a) A captive insurance company may provide reinsurance under the Arkansas Insurance Code, on risks ceded by any other insurer.
(b) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers that are:
(1) Complying with § 23-62-305(a)-(f); or
(2) Not complying with § 23-62-305(a)-(f) upon approval of the captive insurance company's business plan by the Insurance Commissioner.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-62-305. Credit allowed a domestic ceding insurer.
(a)(1) A domestic ceding insurer shall be allowed credit for reinsurance as an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements of this section.
(2) Credit shall be allowed under subsection (b), subsection (c), or subsection (d) of this section only for cessions of the kinds or classes of business that the assuming insurer is licensed or otherwise permitted to write or assume in:
(A) Its state of domicile; or
(B) In the case of a United States branch of an alien assuming insurer, in the state through which it is entered and licensed to transact insurance or reinsurance.
(3) Credit shall be allowed under subsection (d) or subsection (e) of this section only if the applicable requirements of subsection (i) of this section have been satisfied.
(b) Credit shall be allowed if the reinsurance is ceded to an assuming insurer that is licensed to transact insurance or reinsurance in this state.
(c)(1) Credit shall be allowed when the reinsurance is ceded to an assuming insurer that is accredited by the Insurance Commissioner as a reinsurer in this state.
(2) To be eligible for accreditation by the Insurance Commissioner under subdivision (c)(1) of this section, a reinsurer shall:
(A) File with the Insurance Commissioner evidence of its submission to this state's jurisdiction;
(B) Submit to this state's authority to examine its books and records;
(C) Be licensed to transact insurance or reinsurance in at least one (1) state, or, in the case of a United States branch of an alien assuming insurer, be entered through and licensed to transact insurance or reinsurance in at least one (1) state;
(D) File annually with the Insurance Commissioner
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-62-305
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-62-305. This identifies an authority to review, not proof of applicability.