Last Updated: May 30, 2019
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.
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 52.02 (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
Questions concerning the initial or renewal application process for Certified Reinsurers may be directed to Levi Olson at (608) 264-8125 or
|Qualified Jurisdictions||Effective Date|
* Any accredited US jurisdiction is considered a qualified jurisdiction.
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 (conversion chart).
|Secure Rating||Collateral Required|
|Secure - 1||0%|
|Secure - 2||10%|
|Secure - 3||20%|
|Secure - 4||50%|
|Secure - 5||70%|
|Vulnerable - 6||100%|
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 the attention of Levi Olson, Insurance Financial Examiner - Chief, Office of the Commissioner of Insurance, 125 South Webster Street, Madison, WI 53703. 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.
|Applicant Name||Alien Insurer Identification Number||Certified Reinsurer Identification Number||Response Deadline|
Listing of Certified Reinsurers
|Certified Reinsurer||Alien Insurer Identification Number||Certified Reinsurer Identification Number||Effective Date|
Chubb Tempest Reinsurance Ltd.
|AA-3190770||CR-3190770|| 01/01/2018|| 12/31/2019|| Secure - 2|| 01/01/2018|| 10%|
Hanover Ruck SE
|AA-1340125||CR-1340125|| 01/01/2018|| 12/31/2019|| Secure - 2|| 01/01/2018|| 10%|
Arch Reinsurance Ltd.
|AA-3194126||CR-3194126|| 01/01/2018|| 12/31/2019|| Secure - 3|| 01/01/2018|
|XL Burmuda, Ltd.||AA-3191315||CR-3191315||01/01/2019||12/31/2019|| Secure - 3|| 01/01/2019|| 20%|
|Wilton Reinsurance Bermuda, Ltd. ||AA-3190878||CR-3190878||04/01/2019||12/31/2019|| Secure - 3|| 04/01/2019|| 20%|