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Reciprocal Jurisdiction Reinsurers
(Last Updated: October 10, 2024)
Reinsurers may apply for status as a reciprocal jurisdiction reinsurer. A reinsurer that is licensed to write reinsurance by, and has its head office or is domiciled in a reciprocal jurisdiction is not required to post reinsurance collateral if the reinsurer meets all of the requirements of the Credit for Reinsurance laws. Please see MCL 500.1101 to 500.1127 and R. 500.1134 for the law and administrative rules applicable to reciprocal jurisdiction reinsurers.
If an applicant has been recognized as a reciprocal jurisdiction reinsurer in an NAIC accredited jurisdiction, Michigan has the discretion to defer to that lead state's determination through the passporting process.
Application and Filing Procedures - Initial and Renewal
Applicants shall submit the following for both initial and annual renewal applications:
- Uniform Checklist for Reciprocal Jurisdiction Reinsurers, including all necessary corresponding documentation detailed in the checklist. If the applicant is requesting Michigan to be the lead state, Part I should be completed. If applicant is recognized as a reciprocal jurisdiction reinsurer in another NAIC accredited jurisdiction, only Part II should be completed.
- Form RJ-1
- Any other documentation deemed necessary by the Director.
- Application fee of $500.
Renewal applications for reciprocal jurisdiction reinsurers where Michigan is the lead state should be submitted by June 30 to maintain the reinsurer's status for the upcoming year.
Renewal applications for reciprocal jurisdiction reinsurers approved for passporting should be submitted by October 1 to maintain the reinsurer's status for the upcoming year.
The reciprocal jurisdiction reinsurer status will run through the end of the calendar year unless otherwise determined by the Director.
Forms
- Uniform Checklist for Reciprocal Jurisdiction Reinsurers
- RJ-1: Certificate of Reinsurer Domiciled in Reciprocal Jurisdiction
Listing of Reciprocal Jurisdiction Reinsurers
Pursuant to MCL 500.1103(9) and R 500.1134(5), the Director is required to publish a list of reinsurers that have satisfied the conditions established in applicable law for recognition as a reciprocal jurisdiction reinsurer.
Reciprocal Jurisdiction Reinsurer |
Federal/ Alien ID |
Initial Effective Date |
Current Expiration Date |
---|---|---|---|
Arch Reinsurance Ltd. | AA-3194126 | 08/29/2022 | 12/31/2024 |
Ascot Bermuda Limited | AA-3191352 | 08/31/2022 | 12/31/2024 |
Aspen Bermuda Limited | AA-3194168 | 03/31/2022 | 12/31/2024 |
Aspida Life Re Ltd. | AA-3191165 | 07/19/2024 | 12/31/2025 |
Athene Annuity Re Ltd. | AA-3191540 | 01/01/2024 | 12/31/2024 |
Athene Life Re Ltd. | AA-3190982 | 01/01/2024 | 12/31/2024 |
AXA XL Reinsurance Ltd. | AA-3191454 | 09/20/2023 | 12/31/2024 |
Canada Life International Reinsurance Corporation Limited | AA-3191430 | 11/05/2021 | 12/31/2025 |
Chubb European Group SE | AA-1320152 | 11/22/2022 | 12/31/2024 |
Chubb Tempest Reinsurance Ltd. | AA-3190770 | 11/22/2022 | 12/31/2024 |
Conduit Reinsurance Limited | AA-3191435 | 01/01/2024 | 12/31/2024 |
Convex Insurance UK Limited | AA-1120191 | 01/01/2022 | 12/31/2024 |
Convex Re Limited | AA-3191400 | 01/01/2022 | 12/31/2024 |
DaVinci Reinsurance Ltd. | AA-3194122 | 02/02/2022 | 12/31/2024 |
DEVK Re | AA-1340028 | 05/02/2023 | 12/31/2024 |
Endurance Specialty Insurance Ltd. | AA-3194130 | 03/28/2024 | 12/31/2024 |
Everest Reinsurance (Bermuda), Ltd. | AA-3194101 | 03/03/2022 | 12/31/2024 |
Fidelis Insurance Bermuda Limited | AA-3191289 | 11/22/2022 | 12/31/2024 |
Fidelis Underwriting Limited | AA-1120175 | 09/06/2022 | 12/31/2024 |
Fortitude Reinsurance Company Ltd. | AA-3191485 | 05/23/2022 | 12/31/2024 |
Group Ark Insurance Limited | AA-3191437 | 01/01/2023 | 12/31/2024 |
Hannover Life Reassurance Company of America (Bermuda) Ltd. | AA-3191255 | 11/22/2022 | 12/31/2024 |
Hannover Re (Ireland) DAC | AA-1780044 | 01/01/2023 | 12/31/2024 |
Hannover Ruck SE | AA-1340125 | 01/01/2023 | 12/31/2025 |
Hiscox Insurance Company (Bermuda), Ltd. | AA-3190875 | 01/01/2023 | 12/31/2024 |
Lancashire Insurance Company Limited | AA-3190871 | 06/27/2022 | 12/31/2024 |
Liberty Mutual Insurance Europe SE | AA-1370048 | 01/01/2024 | 12/31/2024 |
Lumen Re Ltd. | AA-3191239 | 01/01/2024 | 12/31/2025 |
Mapfre Re, Compania de Reaseguros, S.A. | AA-1840000 | 05/02/2023 | 12/31/2024 |
MS Amlin AG | AA-1460019 | 01/01/2023 | 12/31/2024 |
New Reinsurance Company Ltd. | AA-1460100 | 05/18/2022 | 12/31/2024 |
Partner Reinsurance Company Ltd. | AA-3190686 | 01/01/2023 | 12/31/2024 |
Partner Reinsurance Europe SE | AA-1780078 | 08/29/2022 | 12/31/2024 |
Renaissance Reinsurance Ltd. | AA-3190339 | 02/02/2022 | 12/31/2024 |
RenaissanceRe Europe AG | AA-1460023 | 02/02/2022 | 12/31/2024 |
RenaissanceRe Specialty U.S. Ltd. | AA-3191238 | 02/02/2022 | 12/31/2024 |
RGA Americas Reinsurance Company, Ltd. | AA-3191275 | 07/19/2023 | 12/31/2024 |
Somers Re Ltd. | AA-3191250 | 11/22/2022 | 12/31/2024 |
Somerset Reinsurance Ltd. | AA-3191332 | 01/01/2023 | 12/31/2024 |
Sun Life Financial (Bermuda) Reinsurance Ltd. | AA-3191311 | 01/01/2023 | 12/31/2025 |
Swiss Reinsurance Company Ltd. | AA-1460146 | 01/01/2023 | 12/31/2024 |
Talcott Life Re, Ltd. | AA-3191498 | 01/01/2024 | 12/31/2024 |
Underwriters at Lloyds | various (see Lloyds list) |
03/31/2022 | 12/31/2025 |
Validus Reinsurance, Ltd. | AA-3190870 | 01/01/2023 | 12/31/2024 |
Validus Reinsurance (Switzerland) Ltd. | AA-1460006 | 01/01/2023 | 12/31/2024 |
Vermeer Reinsurance Ltd. | AA-3191388 | 08/29/2022 | 12/31/2024 |
VIG Re zajistovna, a.s. | AA-9350006 | 5/13/2024 | 12/31/2025 |
Wilton Re Overseas Limited | AA-3191521 | 01/01/2024 | 12/31/2024 |
Reciprocal Jurisdictions
Pursuant to MCL 500.1103(8) and R 500.1134(4), the Director is required to publish a list of reciprocal jurisdictions.
Non-U.S. jurisdictions that are subject to an in-force covered agreement with the United States, or in the case of a covered agreement between the United States and European Union, is a member state of the European Union, shall be recognized by the Director as a reciprocal jurisdiction.
Reciprocal Jurisdictions |
---|
Bermuda |
Japan |
Switzerland |
NOTE: In addition to the list above, any U.S. jurisdiction that meets the requirements for accreditation under the NAIC financial standards and accreditation program are recognized as reciprocal jurisdictions pursuant to MCL 500.1103(8)(a).