MISSOURI APPROVES FIRST FOREIGN REINSURERS UNDER ITS CREDIT FOR REINSURANCE LAW
The Missouri Department of Insurance has announced its approval of two Swiss reinsurers, Swiss Reinsurance Co. Ltd. and Swiss Re Corporate Solutions Ltd., under Missouri’s “credit for reinsurance” law. This allows the two reinsurers to post reduced capital for Missouri transactions, based in part on their high credit rating from recognized rating agencies, and their respective capital surpluses, which far exceed the $250 million minimum under the law ($22.9 billion, and $2.65 billion, respectively).
This post written by John Pitblado.
