An insurer may make written application to the commissioner
for approval to file audited consolidated or combined financial statements in
lieu of separate annual audited financial statements if the insurer is part of
a group of insurance companies which utilizes a pooling or 100 percent
reinsurance agreement that affects the solvency and integrity of the insurer's
reserves and such insurer cedes all of its direct and assumed business to the
pool. In such cases, a columnar consolidating or combining worksheet shall be
filed with the report as follows:
1.
Amounts shown on the consolidated or combined audited financial report shall be
shown on the worksheet.
2. Amounts
for each insurer subject to this rule shall be stated separately.
3. Noninsurance operations may be shown on
the worksheet on a combined or individual basis.
4. Explanations of consolidating and
eliminating entries shall be included.
5. A reconciliation shall be included of any
differences between the amounts shown in the individual insurer columns of the
worksheet and comparable amounts shown on the annual statements of the
insurers.
