28 Tex. Admin. Code § 7.1202 - Application Process; Notice of Intention
(a) Any authorized life insurance company
which, pursuant to the Insurance Code, Article 5.75-1(h), intends to enter into
the reinsurance business shall file a notice of intention with the commissioner
of insurance for prior approval and shall include each treaty or request to act
as a property and casualty reinsurer.
(b) Such notice of intention shall set forth
the following items:
(1) the amount of
surplus the life insurance company proposes to allocate to the reinsurance
program;
(2) the company's proposed
plan of operations and budgetary forecast;
(3) the qualifications of the company's staff
to engage in reinsurance for property and casualty insurance subject to the
provisions of the Insurance Code, Chapter 5;
(4) the company's prior three years' IRIS
ratios with an explanation of any unusual results (this information will be
considered confidential);
(5) proof
that the company's place of domicile authorizes it to engage in such kind of
business;
(6) proof, in the case of
a foreign or alien life insurance company, that the insurance regulatory
authorities of the company's place of domicile have been informed of its
intended participation and have not objected to such participation;
and
(7) any additional documents or
information which the commissioner of insurance or the commissioner's staff has
requested to support the proposed entry-transaction and/or compliance with
applicable law.
Notes
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