Certified Reinsurers

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Last Updated: December 10, 2024

Effective January 1, 2018, reinsurers may apply for certified status. This allows a domestic ceding company to reduce collateral requirements and still take full credit for reinsurance recoverables from a certified reinsurer under ch. Ins 52, Wis. Adm. Code, for those contracts entered into or renewed after the reinsurer has obtained certified status. This rule does not prohibit parties to a reinsurance agreement from agreeing to provisions establishing collateral requirements which exceed the minimum requirements.

This page documents the certification process, lists pending applications, and approved certified reinsurers.

Certification Procedure

The Applicant shall submit the Application Checklist for Certified Reinsurers (initial and renewal applications) and any other reasonable requirements deemed necessary for certification by the Commissioner. Upon notice and approval of the application, the effective date will be as of the beginning of the quarter in which the application notice has been posted for 30 days. The status will run through the end of the calendar year unless otherwise determined by the Commissioner. Please see s. Ins 5​2.02 (4m), Wis. Adm. Code  ​​, for the applicable law and regulation on certified reinsurers. Renewal applications are required to be submitted to be considered for certified status in the subsequent calendar year by October 1.

Questions concerning the initial or renewal application process for Certified Reinsurers may be directed to ocireinsurance@wisconsin.gov.​​

Forms

• Application Checklist for Certified Reinsurers
  Lead State Application
  Passp​orting Application (where reinsurer is already certified in one state)
  
• FORM CR-1: Certificate of Certified Reinsurer (complete on letterhead)

Qualified Jurisdictions*

* Any accredited US jurisdiction is considered a qualified jurisdiction.

Secure Levels

A Certified Reinsurer will be allowed to post less than 100% collateral and still enable an authorized insurer to qualify for full credit for reinsurance recoverables with respect to reinsurance contracts entered into or renewed on or after the date the reinsurer becomes certified. Secure level conversion is based on the lower of two approved NRSRO ratings (con​version chart).

Pending Applications

Pursuant to s. Ins 52.02 (4m) (a) 3., Wis. Adm. Code, this notice is given to request that any person who objects to an applicant listed below being licensed as a Certified Reinsurer in Wisconsin should address written comments, specifying with reasonable detail the nature of the objection, to ocireinsurance@wisconsin.gov. Objections are to be received by the response deadline date mentioned below. The Commissioner may not take final action on the application until at least 30 days after posting the notice required by this paragraph.

Listing of Certified Reinsurers​​​​​​​​​

Listing of Withdrawn Certified Reinsurers​​​​​​​​