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Certified Reinsurers

(Last Updated: January 25, 2024)

Effective January 2, 2019, reinsurers may apply for certified status. This allows a domestic ceding company to reduce collateral requirements and still take full credit for reinsurance recoverables from a certified reinsurer for those contracts entered into or renewed after the reinsurer has obtained certified status. This rule does not prohibit parties to a reinsurance agreement from agreeing to provisions establishing collateral requirements which exceed the minimum requirements.

If an applicant has been certified as a reinsurer in an NAIC accredited jurisdiction, Michigan has the discretion to defer to the certification and collateral reduction of a reinsurer assigned by the lead state through the passporting process.

Certification Procedures - Initial and Renewal

Applicants shall submit the following for both Initial and Renewal Certification:

  1. UCAA Application Checklist for Certified Reinsurers. If applicant is certified in another accredited jurisdiction, only Part I needs to be completed.
  2. Form CR-1.
  3. Any other documentation deemed necessary for certification by the Director.
  4. Application fee of $500.

Renewal applications should be submitted by October 1 for certified status for the upcoming year.

The certified reinsurer status will run through the end of the calendar year unless otherwise determined by the Director.

Please see MCL 500.1101-500.1127 and R. 500.1122-500.1133 for the applicable law and regulation on certified reinsurers.


Pending Applications

The public is invited to submit written comments on the below applications. Pursuant to Administrative Rule 500.1131(7), the Director will not take final action until at least 30 days after notice is posted.

Comments may be submitted to:

Application Coordinator
Michigan Department of Insurance and Financial Services/
530 W. Allegan St., 7th Floor
Lansing, MI  48933-1521

Name Date Posted
None at this time.  

Listing of Certified Reinsurers

Certified Reinsurer Federal/
Alien ID
Effective Date
of Initial
Date of
Secure Level
Arch Reinsurance Ltd. AA-3194126 01/01/2021 12/31/2024 Secure-3 01/01/2021 20%
Athene Life Re Ltd. AA-3190982 06/11/2020 12/31/2024 Secure-3 06/11/2020 20%
Canada Life International Reinsurance Corporation Limited AA-3191430 09/30/2020 12/31/2021 Secure-2 9/30/2020 10%
Chubb European Group SE AA-1320152 01/01/2021 12/31/2023 Secure-2 01/01/2021 10%
Chubb Tempest Reinsurance Ltd. AA-3190770 01/01/2021 12/31/2024 Secure-2 01/01/2021 10%
Endurance Specialty Insurance Ltd. AA-3194130 01/01/2021 12/31/2024 Secure-3 01/01/2021 20%
Fidelis Insurance Bermuda Limited AA-3191289 01/01/2022 12/31/2024 Secure-4 01/01/2022 50%
Fidelis Underwriting Limited AA-1120175 01/01/2022 12/31/2024 Secure-4 01/01/2022 50%
Hannover Life Reassurance Company of America (Bermuda) Ltd. AA-3191255 04/01/2021 12/31/2023 Secure-2 04/01/2021 10%
Hannover Ruck SE AA-1340125 04/10/2019 12/31/2024 Secure-2 04/10/2019 10%
New Reinsurance Company Ltd. AA-1460100 02/26/2019 12/31/2024 Secure-2 02/26/2019 10%
Somers Re Ltd. f/k/a Watford Re Ltd. AA-3191250 04/21/2020 12/31/2024 Secure-4 04/21/2020 50%
Somerset Reinsurance Ltd. AA-3191332 05/30/2019 12/31/2024 Secure-5 05/30/2019 75%
Swiss Reinsurance Company Ltd. AA-1460146 09/08/2020 12/31/2024 Secure-2 09/08/2020 10%
Wilton Re Overseas Limited AA-3191521 01/24/2024 12/31/2024 Secure-3 01/24/2024 20%
Wilton Reinsurance Bermuda Limited AA-3190878 05/30/2019 12/31/2023 Secure-3 05/30/2019 20%
XL Bermuda Ltd. AA-3191315 05/09/2019 12/31/2024 Secure-2 12/22/2020 10%
Secure-3 05/09/2019-12/21/2020 20%

Qualified Jurisdictions

Pursuant to MCL 500.1103(6)(c), the Director is required to publish a list of qualified jurisdictions under which an assuming insurer licensed and domiciled in a qualified jurisdiction is eligible to be considered for certification by the Director as a certified reinsurer.

Qualified Jurisdictions Effective Date
Bermuda 01/01/2019
France 01/01/2019
Germany 01/01/2019
Ireland 01/01/2019
Japan 01/01/2019
Switzerland 01/01/2019
United Kingdom 01/01/2019

NOTE: In addition to the list above, any U.S. jurisdictions that meet the requirement for accreditation under the NAIC financial standards and accreditation program are recognized as qualified jurisdictions pursuant to MCL 500.1103(6)(c)(iii).