OHIO DEPARTMENT OF INSURANCE IDENTIFIES REQUIREMENTS FOR DOMESTIC INSURERS TO TAKE CREDIT FOR CEDED INSURANCE ON FINANCIAL STATEMENTS
The Ohio Department of Insurance requires that Ohio domestic insurance companies taking credit for ceded insurance on their financial statements to comply with certain statutory conditions, including requiring that the assuming reinsurer must be authorized in Ohio as of the date of the financial statement. Additionally, domestic insurers may take credit for reinsurance ceded to certain unauthorized reinsurers that meet the US reinsurance trust requirements under certain Ohio statutory requirements.
This post written by Leonor Lagomasino.
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