All applications and renewal filings should be directed to the Company Licensing and Examinations Division at colicexam@nd.gov.
There is no registration required for an admitted reinsurer or an authorized reinsurer.
Please note there are no specific requirements for application or registration of assuming insurers that assume reinsurance from foreign companies who are licensed in the state of North Dakota but domiciled in another state.
An admitted reinsurer is any assuming insurer or nonprofit health service corporation that is licensed in North Dakota to transact insurance or reinsurance. Reinsurance credit is permitted under the provisions of N.D.C.C. § 26.1-31.2-01 and N.D. Admin. Code § 45-03-07.1-01, when a domestic insurer cedes reinsurance to an admitted reinsurer.
Reinsurance credit is allowed only for the cessions of a kind or class of business that the admitted reinsurer is licensed or otherwise allowed to write or assume in its state of domicile.
Admitted reinsurers are required to maintain a license in this state, but there are no specific requirements for application or registration. Notification of any corporate changes, such as a name change, address change, merger, or redomestication should be made by following the instructions under the Certificate of Authority Amendments section of this website.
To verify that an assuming insurer or nonprofit health service corporation is licensed in North Dakota, please contact the North Dakota Insurance Department.
An authorized reinsurer is an assuming insurer (including U.S. branch of an alien assuming insurer) that is domiciled and licensed in (or entered through) a state which has substantially similar standards for reinsurance credit. Reinsurance credit is permitted under the provisions of N.D.C.C. § 26.1-31.2-01 and N.D. Admin. Code § 45-03-07.1-03 when a domestic insurer cedes reinsurance to an authorized reinsurer.
Reinsurance credit is allowed only for the cessions of a kind or class of business that the authorized reinsurer is licensed or otherwise allowed to write or assume in its state of domicile, or in the case of a U.S. branch of an alien assuming insurer, in the state through which it is entered and licensed.
Authorized reinsurers are subject to the following requirements:
- Must maintain a surplus of at least $20,000,000 (this is not applicable to pooling arrangement participants that are members in the same holding company system).
- Must submit a completed and signed Certificate of Assuming Insurer (AR-1) (SFN 53913) to the North Dakota Insurance Department with an explanatory cover letter.
A written notification of any corporate changes, such as a name change, address change, merger or redomestication must be sent to the Department in a timely manner. The notification should include an updated SFN 53913 by an authorized reinsurer to reflect the change, as applicable.