Pursuant to 24-A M.R.S.A. § 731-B(1)(B-2), financially strong reinsurers from qualifying foreign jurisdictions may apply to the Superintendent for approval as “certified reinsurers,” which enables them to assume reinsurance from Maine domestic reinsurers with lower collateral requirements, reflecting their financial strength and agreement to submit to ongoing monitoring by Maine and other United States regulators.
To ensure that all interested parties are fully informed and have a reasonable opportunity to comment, the Superintendent provides public notice of all pending certified reinsurer applications and will not take final action until the notice has been posted for 30 days. Comments may be submitted to Audrey.L.Wade@maine.gov.
The table below lists the applications received by the Bureau and the status of each:
|Reinsurer||Date Received||Final Date for Public Comment||Status|
|Arch Reinsurance Ltd.||Jan. 5, 2015||Feb. 15, 2015||Approved Feb. 18, 2015|
|Hannover Rück||May 8, 2015||
Comment period reopened June 8, 2015
|Approved May 15, 2015|
|Endurance Specialty Insurance Ltd||September 23, 2015||October 29, 2015||Approved October 29, 2015|
|TransRe London Limited||March 1, 2017||April 1, 2017||Approved April 10, 2017|
|Wilton Reinsurance Bermuda Limited||May 2, 2019||June 6, 2019||Approved June 17, 2019|
|Athene Life Re Ltd||January 27, 2020||February 27, 2020||Approved March 3, 2020|
|Watford Re Ltd||March 4, 2020||April 4, 2020||Approved April 9, 2020|
|Chubb European Group SE||December 22, 2020||January 22, 2021||Approved January 22, 2021|