Certified Reinsurers

​​​​​​​​​​​​​​​Last Updated: June 29​, 2022

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 Levi Olson at (608) 264-8125 or    levi.olson@wisconsin.gov.


Forms


Qualified Jurisdictions*

Qualified Jurisdictions Effective Date
Bermuda 1/1/2018
France 1/1/2018
Germany 1/1/2018
Ireland 1/1/2018
Japan 1/1/2018
Switzerland 1/1/2018
United Kingdom 1/1/2018

* 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).

Secure Rating Collateral Required
Secure - 1 0%
Secure - 2 10%
Secure - 3 20%
Secure - 4 50%
Secure - 5 70%
Vulnerable - 6 100%

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 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

​​TransRe London Limited

​AA-1120159

​CR-1120159

​July 25, 2022
​Chubb Tempest Reinsurance Ltd.
​AA-3190770
​CR-3190770
​​July 30, 2022

Listing of Certified Reinsurers​​​​​​


Certified Reinsurer Alien Insurer Identification Number Certified Reinsurer Identification Number Effective Date
of Initial
Certification
Current
Certification
Period

Secure
Level       

Effective
Date of
Secure Level
Collateral
Required

​A​rch Re​in​sur​ance Ltd. ​

​ ​AA-3194126

​CR-3194126

​01/01/2018​

12/31/2022

​Secure - 3

​01/01/2018​

​20%

​Chubb European Group SE

​AA-1320152

​CR-1320152

​01/01/2021

​12/31/2022

​Secure - 2

​01/01/2021

​10%

Chubb Tempest Reinsurance Ltd.

AA-3190770

​CR-3190770

01/01/2018

12/31/2022

Secure - 2

01/01/2018

10%

​Convex Insurance UK Limited

​AA-1120191

​CR-1120191

​01/01/2022

​12/31/2022

​Secure - 4

​01/01/2022

​50%

​Convex Re Limited

​AA-3191400

​CR-3191400

​01/01/2022

​12/31/2022

​Secure - 4

​01/01/2022

​50%

​​Endurance Specialty Insurance Ltd.

​AA-3194130

​CR-3194130

​01/01/2020

​12/31/2022

​Secure - 3

​01/01/2020

​20%

​Fidelis Insurance Bermuda Limited

​AA-3131289

​CR-3191289

​01/01/2022

​12/31/2022

​Secure - 4

​01/01/2022

​50%

Fidelis Underwriting Limited​

​AA-1120175

​CR-1120175

​01/01/2022

​12/31/2022

​Secure - 4

​01/01/2022

​50%

​Hannover Ruck SE

AA-1340125

​CR-1340125

01/01/2018

12/31/2022

Secure - 2

01/01/2018

10%

​Somers Re Ltd (formerly Watford Re Ltd.)
​AA-3191215
​CR-3191215
01/01/2020
​12/31/2022
​Secure - 4
​01/01/2020
​50%
Somerset Reinsurance Ltd.
​AA-3191332
​CR-3191332
​04-01/2022
​12/31/2022
​Secure - 5
​04/01/2022
​75%

​Swiss Reinsurance Company Ltd

​AA-1460146​

​CR-1460146​

​07/01/2020​

​12/31/2022

Secure - 2

​07/01/2020

10%​

​​TransRe London Limited

​AA-1120159​

​CR-1120159​

​0​1/01/2020

12/31/2022

​Secure - 3​

​01/01/2020

20%​

​Wilton Reinsurance Bermuda Limited

​AA-3190878

CR-3190878​

​04/01/2019 

12/31/2022 

Secure - 3​

04/01/2019 ​

20%

​XL Bermuda Ltd

​AA-3191315

​CR-3191315

​01/01/2019

​12/31/2022

Secure - 2



Secure - 3

​01/01/2021 - 12/31/2022


01/01/2019 - 12/31/2020

​10%​​



20%