Filing Requirements for Accredited Reinsurers

Insurance companies seeking to assume the insurance risks of insurers domiciled in Maryland must apply to become eligible under Sections 2-112, 5-906 and 6-203 of the Insurance Article of the Annotated Code of Maryland, and Subtitle 5 of Title 31 of the Code of Maryland Regulations ( Once eligible, companies are required to apply annually with the Maryland Insurance Administration to maintain their eligibility. Companies are required to submit the following:

  • Application Cover Sheet.
  • Reinsurance Application for Accredited Reinsurers.
  • Certified copy of the most recent annual statement.
  • Audited financial report for the preceding calendar year prepared by an independent certified public accountant.
  • Latest Report of Examination made of the applicant by the Insurance Regulatory Agency of the applicant's state of domicile.
  • Certificate of Compliance from domiciliary jurisdiction.
  • A Certificate of Valuation issued by the applicant's state of domicile if reinsuring a life insurer.
  • Certificate of Deposit from domiciliary jurisdiction.
  • Form AR-1, Certificate of Assuming Insurer.
  • Annual Filing fee of $1,000 (non-refundable) and $1,000 Fraud Prevention Fee made payable to the Maryland Insurance Administration.*

*If your company is approved as an accredited reinsurer and a surplus lines insurer, total payment due is $3,000.

Minimum financial requirement is policyholders’ surplus totaling $20,000,000.

Filings and fees must be received on or before June 20 for annual renewals.

If you have any questions, contact:
Maryland Insurance Administration
Company Licensing Unit
Phone:  410-468-2104
Fax:  410-468-2112

Documents and fees should be submitted to:
Maryland Insurance Administration
Company Licensing
200 St. Paul Place, Suite 2700
Baltimore, MD  21202