Registration Requirements for Certified Reinsurers

Insurance companies seeking to assume the insurance risks of insurers domiciled in Maryland must apply to become eligible under Insurance Article, §§ 5-908 and 6-203, Annotated Code of Maryland, and Code of Maryland Regulations 31.05.08. Companies desiring to be eligible as approved Certified Reinsurers in Maryland are required to submit the following:

Minimum financial requirement is policyholders’ surplus totaling $250,000,000.

Depending on the certification rating assigned by the Maryland Insurance Administration, a certified reinsurer will be allowed to post less than 100% collateral and still enable an authorized insurer to qualify for full reserve credit with respect to reinsurance contracts renewed or entered into on or after the date the reinsurer becomes certified.

Certification Rating ​ Minimum Amount Withheld for Full Credit
Secure-1 0%
Secure-2 10%
Secure-3 20%
Secure-4 50%
Secure-5 75%
Vulnerable-6 100%​

The authorization for Certified Reinsurers expires annually on June 30.  Companies desiring to renew their eligibility as approved Certified Reinsurers in Maryland are required to submit the following by May 30: 

Minimum financial requirement is policyholders’ surplus totaling $250,000,000.

Click here for a listing of approved certified reinsurers and fully qualified jurisdictions.​

If you have any questions, contact:

Maryland Insurance Administration
Company Licensing Unit
Phone:  410-468-2104
Fax:  410-468-2112

Email: colicensing.mia@maryland.gov

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