Filing Requirements for Accredited Reinsurers

Insurance companies seeking to assume the insurance risks of insuers 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 (31.05.08.05). 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 Melissa Ham at:
Maryland Insurance Administration
Company Licensing Unit
Phone:  410-468-2110
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